Yep. I've heard that sentiment more times than I can count over the decades -- and in every single case, without exception, those ventures failed pretty hard.

I think its because the sentiment expresses a fundamental misunderstanding of how business works and what makes it successful. The idea is not the most important ingredient in a business, the execution is.

For the most part, it doesn't matter if someone else takes your idea and beats you to it as long as your offering is better at solving the customer's problem. And that's a matter of execution.