It's also terribly inaccurate to say that "most technical people can, over time, "figure out the business stuff" to a far greater degree than most business people can "figure out the technical stuff". If "figuring it out" is akin to having a basic understanding, I think many great business founders have proven they can learn to code on a basic level. Similarly, developers may also learn the basics of business development, sales or fundraising by reading some articles. And, maybe one more than the other. But just as figuring out the basics of coding does not make you a valuable developer, learning the basics of business does not suddenly empower a person with the ability to ask the right questions, communicate clearly, create mutual value between partners, close a sale, negotiate terms, save a furious client, and so on.
Being moderate at any of these things does not a great founder, or company, make. Implying that techs can somehow become good at these things in droves, or easily at all, is drastically underestimating what a true business leader is capable of.
At the pure idea phase, some degree of technical talent, however minor, is huge leverage, esp. if whoever it is can prototype something to a point of raising seed capital. At this point, incredible engineering skills aren't needed, but some solid technical background is important. That said, the degree to which engineering talent is required is really product dependent (as well as space dependent--i.e., consumer v enterprise).
(and this is coming from a business side guy)
However, the fact of the matter is that most technical people can, over time, "figure out the business stuff" to a far greater degree than most business people can "figure out the technical stuff".
In Silicon Valley and tech in general, engineers are in incredible demand and opportunities to learn how to develop entrepreneurship/business skills are everywhere. The point of the story is to illustrate an example of what "business guys" need to do to establish the trust and respect of someone who is technically skilled.
Also, I have run into very few arrogant, holier-than-thou developers in my time. Perhaps that would change my perspective to be closer to yours.