Yes they are tied to the e-mail. It will allow the transaction to go through and they will take your money but they will not ship to you until the next batch of products are ready which could be months later.
Ask some of the people in the long Element thread that "line jumped", either purposely using a code or accidentally due to the store allowing them to order. Most didn't get their case at all and had to do a paypal dispute or had to wait a couple months.