HN has tended to prioritise product development at the expense of business development, when the reality is you need both. Many of us seem to come from that product dev background and like to stick to the "if you build it they will come" mentality, which isn't so hot in practice. A lot of modern business models (especially those like ARM's licensing or Google's sublimely evil auctions) deserve respect from the hacker community for being almost as innovative as the products being sold in them.
Finally, I kind of wonder if the promotion by 37 signals has introduced a sort of conservatism that doesn't really work. Their true success came from the then radical idea of software as a service, and while I admire the way they cut through a lot of start up bullshit their approach seems to destroy ambition in a way that, for example, YC doesn't seem to.