The money is only a small part of it. It's really there to make sure you can focus on your project and not worry about putting food on your plate or making rent. The money was put on the table, but I'd like to get feedback to know if it's something that interested teams would want in exchange for equity.
The money to me was important as well as everything else YC offered. I wouldn't have applied otherwise. I can't afford to build my business without the seed money at this point. So it's either find a job, go back to school and/or look for funding elsewhere.