Totally agree. I started my company 4 years ago. We have been pretty successful so far (several millions in revenue and big customers). There are times that people need to work a lot but there is no way you can work 7 or even 6 days a week in a sustainable fashion, not even at the beginning. I never expected people to work on the weekends although sometimes they do. Of course, I never expected people to work more than me either. Most of them are extremely productive during normal working hours. I don't think having a life means you are not motivated.

Also, hours that somebody appears to be working is definitely the wrong metric for developers.