They take it at the end of the drop, then put in an order for them to be produced. Around the middle of December they will be ready to ship out. This isn't Amazon, it isn't instant.
If you want something similar and now grab the HE400i for $100 more.
Look, I fully understand that HifiMan can't manufacture 2500+ headphones overnight, and needs at least a small down payment from Massdrop. But the last time I did something like this (with a reputable, established company), I lost over $1000 when the company abruptly went out of business. I know this isn't likely, but there is such a thing as Common Sense.
This is how all of Massdrop's deals work, and they've been around and kicking for a while. If you don't like the business model or are worried about MD kicking the bucket and you being out on cash, then it might just not be the shopping platform for you.
Uhmm well if your cards have fraud insurance most of the time you're covered for things like this. Consult your bank first and foremost. Another option you have is to use PayPal if you're really squeamish about the transaction. That being said, this is Massdrop. Their reputation precedes the company and it is extremely unlikely the situation you describe will happen.
Don't worry bud. I've bought a bunch of stuff, some the pay and wait for months type and have not been disappointed yet. Think of it like a surprise gift to future you and forget about it. :)
Massdrop does it as a group purchase, hence the waiting time. Sometimes they have the stock more prepared especially if it isnt a collaboration. or they just clone a decent amount of hd650, not this time they've gone and sold a truckton of those.
i.e. massdrop doesn't keep exactly a lot of stock on hand. Don't worry about it, Massdrop has been pretty good for these years. You'll purchase is decently safe here, imo.