Totally agree. It's a very personal thing. For us at Mobile Jazz it means to work on technical challenges, while at the same time working on "startup-like products" (e.g. Bugfender or Localname), while not having any pressure from investors and as you said spending also more time on other things in life.

This probably excludes a lot of product types that are highly competitive or time critical, but there's still a lot left to work on, especially niche products. In our case that niche are developer tools, which all came up organically as we built our own developer tools for ourselves anyway.