This is true. I think what we saw was an accelerator bandwagon. It was truly a revolutionary mechanism in the VC world and everybody under the sun wanted in on the action... but there were too many and hardly any of them could replicate the same results as YC and TS. We knew some of them were going to die off and now they have.

I fail to see how anybody but the "me too" accelerators lose with this trend (and they were losing already, obviously). Startup founders shouldn't have been taking money from them anyway, so the fact that they're dying off just saves naive founders from making at least this one mistake.