YC is surprisingly unambitious. They have access to unlimited amounts of capital and do almost nothing with it. Maybe because they compare themselves to the truly terrible investors they're surrounded by, and so it feels ambitious by comparison?

This announcement should be about a new $1 billion fund that they're going to use to deputize and train a thousand new angel investors. Or at least something big enough to move the needle.

Observing YC's evolution is a bit like watching someone take over Philip II of Macedon's empire and using it to march around Greece in circles.