I'm pretty sure YC doesn't have anything to fear. They will likely get the cream of the crop (according to their standards) since the program is well-establishe

I'm pretty sure YC doesn't have anything to fear. They will likely get the cream of the crop (according to their standards) since the program is well-established, is in the startup capital, and is lead by someone who has provided a wealth of resources on startups. YC is like the Harvard of seed funding programs: few people would turn it down if accepted.