Derek Siver's observation back in 2005 that ideas are a modifier on execution is a slightly better recounting of this point: http://sivers.org/multiply

People can bitch and kvetch about elevator-pitch/vision level descriptions of products, but such analyses are always shallow, and particularly for interesting products almost always miss the point.

Always look to the execution.

(on the flip side, the flaws of poorly executed projects can often be very easy to sum up)