Is Y Combinator losing its edge? Some say it's an identity crisis

Y Combinator’s golden reputation is under fire. Once a launchpad for Airbnb and Stripe, critics say bigger batches, lower seed rounds, and look-alike startups have diluted its impact. Investors now face overcrowded Demo Days, and AI dominates 87% of recent cohorts. Some call it a B2B SaaS echo chamber, but YC insists founders get more support than ever. Has YC scaled too far?