Business Development Companies are actually a thing [0]. They're consulting firms that take equity. So... yeah. You're pretty much right on.

That said, YC is a fantastic way for a young company to identify what's really important and to be reminded weekly (if not daily) to ignore everything else.

P.S. Good luck to all those interviewing for the upcoming batch.

[0] http://en.m.wikipedia.org/wiki/Business_Development_Company