Exactly, and for those guys who do not get into YC, they still have the option of getting a 'prototype of YC' - which in your own words is almost the same as YC.

I am not saying YC is bad - far from it - I am myself a big fan.

The only thing I was pointing out was that the YC interview rejection/acceptance should ideally have only as much importance as being rejected/accepted from probably another angel investor - which happens more often than not in the startup world and consequently should not be given a lot of importance.

The entrepreneurs who are in the trenches shouldnt really care as much about a rejection or two - its no big deal and even an acceptance might not be a big deal - but if you build something that people want and have something to show for it then feel free to jump over the moon.