When, in your mind, "more hours = more product", then it's not a huge leap to think that the abusive and ridiculous parts of the "Silicon Valley Model" are the reasons for their success, not that the success happens despite it.
I've run across several local (and very far from Silicon Valley) businesses that try and model themselves after the Silicon Valley startups, thinking it's some key to success. But the parts they model aren't the parts that, arguably, actually lead to success - exploring new ideas, MVPs, failing fast, making industry connections - it's the workspace design and cultural attitude towards hours and work/home balance.
We have several local web development shops that try and act like Silicon Valley while pumping out $3k brochure websites, and can't figure out why they're not rich yet.