Completely agree with your observations re. 1st and 2nd problems!

I should have provided a little bit more context: the accelerator is pre-seed and it takes individuals, as opposed to teams, straight from university and mostly even pre-idea. The accelerator itself facilitates team building, idea generation and then provides courses on customer dev / etc. as company progresses.

The accelerator invests in highly technical people and ideas, not companies or teams. The track record so far indicates that the thesis of "awesome people will build awesome things given the right environment" is working.