I went to the same SW as the one mentioned in this post. Our team ended up being almost all devs and 1 biz guy where we created a way to edit neural networks with a web interface, a.k.a. no potential business/profitability. We had a lot of fun (got an honorable mention) and I got to network with some people, basically what I think to be the goal of a SW.

P.S. It was pretty obvious that Billy was looking for cheap devs when he gave his pitch. The warning flags were there if you talked to him 1-on-1 at all.