People will have a different opinion of you based on the order in which you tell them facts about yourself. Dan Ariely did some good research into this phenomenon on online dating sites.
If a company tells you "we have great pay!...but we sell cigarettes" you're going to have a better response than if the company tells you "we sell cigarettes...but hey, great pay!" That's life. Companies hide negative facts about themselves behind these sorts of ordering tricks because, well, they work.
Now, YC companies seem the least likely to have anything to hide about themselves. That said, when I see an ad like this, my first reaction is to shy away - because even if they do have some legit reason for staying stealth (competitiveness, hiding YC funding, etc), they could also be doing this just to hide some fact that I might find negative later in the interview process. I've been burned one too many times by non-YC companies doing this to me, that I'm concerned to see YC companies doing it too.