They're made to look bad by how easy it is to apply. If you make a website offering people money if they fill out a form, a lot of people will fill it out. But the odds for a good team are not as bad as they might seem. At least a third of the applications are egregiously broken: 13 year old founders, people who want to "telecommute" from India, people who want us to fund their plumbing supply store, etc...