I was just accepted, and then rejected.
Felt like shit.
You don't need a "startup school" or a YC acceptance to be successful.
This application allowed me to type like 45 words about my company, and that was it. I imagine they had thousands of applicants.
Once a week with an advisor that's working with 25 other companies? Startup School definitely won't be the thing that moves the needle for your project.
Pessimistically, I see this more as a feeder for YC. This "software glitch" is somewhat telling of the care they are putting into this. In other words, "It's a numbers game".
Keep putting in work. We don't need $120K for 7% in funding for "connections" to get our products off the ground anymore. We don't need this. We can bootstrap.