Demanding equitable compensation falls under the rubric of "smart." If you're willing to work for pay below market value, you're not smart, therefore don't meet the "smart and passionate" condition.
I wouldn't really be a smart rational economic actor if I hadn't judged it to be profitable over my other options, though I admit there is more to it than just money.
In this case, part of the salary is your working environment which would be significantly better in a start up.