I used to think the same. But after meeting with some of its engineers and designer (yes, one), my perspective has changed quite a bit. Yes, many things they do range from insane to socially unacceptable, but they've got the brains.

Also, while they are making a lot of mistakes, they are getting a few key things very right as a startup: 1. building a strong culture and brand 2. dominating a niche before expanding out to other verticals (Geoffrey Moore's bowling ally theory).