That may be so. I see the real value of YC as being mentorship from the team and the connections that follow rather than just funding and a stamp of approval for connections. Then again I haven't been in the business as long as most older entrepreneurs so I'll withhold judgement.
There's a value there for sure, but for folks like me (30's, savings, used to a large salary, own a home, married, etc...) relocating and everything else required may not be worth the trade off.
This is my big interest in YC and why I'll try applying this Winter--There are plenty of resources for doing all of this yourself, and many people have but given my background and experience I have, I probably can't get my idea off the ground without proper guidance and I think many people are like me who genuinely need that little bit of help more than they need large sums of money, a stamp of approval or what have you--that guidance will carry you to all of that stuff in the end.