I believe the pool's antecedents and ideas are much more diverse than that. I recommend the recent book 'The Launch Pad' (http://www.amazon.com/dp/1591845297) as a good introduction to YC.
Personally, if I were in a peer group any of whose members managed to succeed, I'd be much more motivated to give it another try even if my own effort had failed, compared to having made the effort alone.
edit: But I agree with you in another way. Hurting for the lack of such a credential is a self-confidence issue. If you managed to hunker down and make something on your own, you're already ahead of the unwashed masses. Surely making a case for that is not so difficult in comparison (to the effort itself).
Personally, if I were in a peer group any of whose members managed to succeed, I'd be much more motivated to give it another try even if my own effort had failed, compared to having made the effort alone.
edit: But I agree with you in another way. Hurting for the lack of such a credential is a self-confidence issue. If you managed to hunker down and make something on your own, you're already ahead of the unwashed masses. Surely making a case for that is not so difficult in comparison (to the effort itself).