As an aside, HN best practice is to post the title of the article in the most accurate way. "How to not suck" may imply a more light-hearted article, while "How to Craft an Effective VC Pitch" is clearly informative.

Regarding the article, this advice seems to align with most of the stuff posted relating to pitching.

Number 4, though, may give people the wrong message. It seems to say, "Don't pursue a market with strong competition." If that were the case, Google wouldn't exist. Most VC's and Angels, from what I've read, aren't so fazed by competition, but rather see it as a sign of a lucrative market. The author seems to think that "value" (yes, it was in quotes) is a strange competitive advantage, but I'd argue that if value wasn't your key competitive advantage, you're doing something wrong.

Other than that, it's a pretty informative read. No need to reinvent the wheel.