But wouldn't IQ, education, etc. be factors in whether someone would even make it into the YC class?

If investors are not concerned with these factors, should they be relevant in the YC (or any incubator) application process?

(I realize asking this may be stirring a hornet's nest, and to anyone reading who is offended I apologize, but I am sincerely interested in the mind of the investor and their evaluation process.)