I don't know why there's so much negativity. I see this as a big win for students interested in it.

1. it's a short commitment - only 3 months. more time-bound opportunities should be available to kids coming out of school. too many people go straight to big finance/law/tech/etc and get stuck because they don't want to give up the salary or safety.

2. get access to a network that is very difficult to get access to otherwis

3. better status boost than most other things you could be doing. There are likely better status signals about someone's abilities/intellect than YC, but i'm guessing they are few for people in the valley.

4. Get to work on something you are interested in

5. learn a lot very quickly.

6. gives you a lot of optionality

yes, YC is trying to make money but they do seem intent on developing talent and this is a good avenue for that.