"Did anyone consider that maybe Sequoia, who have invested in companies that make up over 10% of the NASDAQ know what they are doing?"

Neither Merril Lynch nor Lehman Brother knew what they were doing.

"Investors are less interested in where you are today, compared to where you are going"

Yes the future is important, but there's the risk-reward trade-off. If a company looks badly risky today, a rational investor will steer away from it.

"If nothing else, posts like this are terribly offensive to the entrepreneurs that dedicate their lives to products like Color."

And for your first point, a well functioning entrepreneurs ecosystem require both dedicated entrepreneurs AND rational investors. This is not to demean the entrepreneur.