I strongly disagree with the premise that the Yahoo! presented in that screenshot was a minimum viable product - that really was the product: the differentiator

I strongly disagree with the premise that the Yahoo! presented in that screenshot was a minimum viable product - that really was the product: the differentiator between Yahoo! and, say, AltaVista was that Yahoo! was a hierarchical list of links rather than an actual indexed search engine. It stayed that way for many years.