Personally, I prefer SV when it's leaner. I'm actually working on a project that is actually innovative, and I'd much prefer to raise money later, hopefully when all this madness has dried up and VC's have time to evaluate something new.
Groupon might not be a strong company, might not have a good product, might be in for a lower share price, etc. But it doesn't add anything to call it "stupid" or lament the fact that they were given money, especially given how many times this sentiment is reiterated on every thread relating to Groupon.
The post just doesn't seem general enough to cover a different climate (which you might not have been active in, and which I personally hope we will return to eventually.)
That's all I have to say. I don't mind the current climate as much as the OP does. You're still free to disagree, but the sentiment as expressed is pretty clear and specific.
Still, glad you shared your thoughts.