Let's cut through all the rhetoric and mumbo jumbo.
As a consumer, purchasing any item before getting a chance to inspect it is foolish, financially irresponsible, asking to be disappointed, etc.
The only way BTO will work is when consumers are not required to make a down payment and have the right of refusal when a product does arrive. This is the way some dealers have executed the BTO program. I would not deal with one who acted in any other manner.
As the consumer and end user of the product, I expect to bear little, if any, financial risk on such an item. I am, after all, the person shelling out the $$$$ for an item....not a person making money anywhere along the distribution line. As such, my (personal) risk tolerance on the matter is essentially zero.
Heck, I bought a '69 Z28 12 years ago sight unseen and a '78 Z28 sight unseen 9 years ago.
I have no problems whatsoever about buying a model train in the same manner. I don't even think twice about it.