Today Ys Net has an updated on the Shenmue III Kickstarter. They faced a ton of backlash after announcing at E3 the game would be an Epic Games Store exclusive. At first they were stating no refunds would be given, but they have since changed their tune as of today. They will give refunds to backers unhappy with this change. They have also noted physical PC versions of Shenmue III will not ship with game data, but rather an Epic Store installer to download the game.
If you decide not to refund this train wreck you hold out for a year and they will give you a Steam key, or you can switch over to the PlayStation 4 version of the game.