Difficult hypothetical but Jobs was a control freak. Hard to see him going though the motions of an incubator or accelerator.
To me it's a practical replacement for college, with a similar atmosphere. Steve dropped out, so maybe this would have appealed to him more.
On the other hand, he didn't have to deal with the much more complicated legal environment that we have now, which includes patent suits left and right whenever there's big stakes involved. But on the other other hand, perhaps there's no good way to navigate these new problems anyway.