I'd have to agree. To add to your points though, I like to think of Ideas and Execution lying in a spectrum between Genius and Obvious.
You can take an obvious idea (a social network to connect friends circa 2004), add genius execution to it in terms of adoption and growth, and win.
You can take a genius idea (crunch every page in the web and spit out search results in seconds), keep the execution in terms of UI and experience really obvious and win.
You can even take an obvious idea, apply an obvious execution strategy to it, and steadily grow (or at least play a strong catch up).
The scary part is when you mix a genius idea with genius execution - and risk getting having brilliant app fly over the head.
IMHO bad things start to happen when we start falling blindly in love with our own intellect.
You can take an obvious idea (a social network to connect friends circa 2004), add genius execution to it in terms of adoption and growth, and win.
You can take a genius idea (crunch every page in the web and spit out search results in seconds), keep the execution in terms of UI and experience really obvious and win.
You can even take an obvious idea, apply an obvious execution strategy to it, and steadily grow (or at least play a strong catch up).
The scary part is when you mix a genius idea with genius execution - and risk getting having brilliant app fly over the head.
IMHO bad things start to happen when we start falling blindly in love with our own intellect.