The bigger point here is that for the first time ever guys who are non-coders but have domain expertise and the ability to take the product to market now have an option. Every other accelerator will slam their door in your face.
We're pretty pumped about this. Having a tech cofounder is massively helpful, but we don't feel the lack of one discounts your value to zero.
We just think it's something worth experimenting with. PG (and David Cohen et al.) are engineers. We think their bias towards developers is natural but until we see empirical data showing otherwise we think there's still potential for non-coders to successfully start and grow a product company.
There's no question there's pros and cons.
The only question is can we address the cons and accentuate the pros. (See Quora: What are the pros and cons of a non-technical founder for a start-up: http://qr.ae/clRm )
The good news is we'll find out fairly quickly!