It made starting my grad work in usability much less painful.
Both kinds of feedback, lab and cafe, are useful. They each provide a different kind of feedback, from a focused and unfocused user so they aren't mutually exclusive. Rather, both are worthwhile.
You don't need that to get value. Initial investment for "lost our lease" usability testing is $99 for Screenflow and $70 for a Snowball USB microphone. It would help to do the test in a room that's not full of people, but grab a conference room, or do it after work.
There's no reason a bootstrapped startup can't afford this -- in fact, there's an argument to be made that they can't afford NOT to do it.
Plenty of market research companies offer rooms like this for rent.
There are a few companies doing this already, so not exactly new.
Steve Krug calls it "Lost Our Lease Usability Testing" and explains how to do it in Don't Make Me Think. You can download the relevant chapters here: http://www.sensible.com/downloads-dmmt.html
We did this at a company I worked at a few years ago and it made us completely change how we were building the product because our target users got nothing out of it (I talked a bit about this a RubyFringe: http://www.infoq.com/presentations/francl-testing-overrated)