It's important to understand the context of this post. Adeo said it was an email to their startups which they decided to publish.

It's a pep talk to people who've already or are on the brink of taking the leap. In that light it's entirely applicable. It's not speaking against sane business models it's about use this as an opportunity to dig in and kick ass.

It doesn't matter how you get to "kick ass" ... as long as you get there.