true, but YC involves more than just coding. There is scouting for location, getting the right h/w and s/w, hiring people, registering the company, not to mention the weekly dinners with other YC staff, investor days, presentations, meetings, seeking advice from previous participants etc http://ycombinator.com/atyc.html

You'd think the same thing about half the shows on TV.

"There's only so many cupcakes you can watch a person make."

"There's only so many times you can watch somebody bolt headers onto a motorcycle."

"There's only so many times you can watch somebody eat rice on an island."

In more general media: "There's only so many times you can watch a guy throw a football."

"There's only so many 'medical mysteries' House can solve."