If you "waste" time on the real important stuff such as a good design, user security, or the like, you will lose over to a competitor who didn't and therefore was able to spend more time on marketing.
If you waste your time on user privacy you will be totally crushed by that competitor whose definition of "privacy" was "how much can I pester this user until he gives me access to his address book so I can spam his friends?".
I don't think this is good. I think this is very sad. But it is what it is.
I still remember the Whatsapp founders coming into the jabber mailing lists with "please let me configure my server"-type questions, for god's sake.