In this case, you're wrong. This team is easily the highest IQ concentration in Bitcoin history.
No other group comes close; in fact, I would have said their only possible weakness was that they might have been too nerdy to raise a round. Luckily, I don't know shit about their fundraising skills. This is easily the most bullish news Bitcoin has had in years, in my opinion. Great team, fantastic tech and theoretical track record, and a technology that will build Bitcoin value and usefulness. What's not to like?
More often than not, it's just about who knows who, back room dealings and favours.