IMHO, the bar is currently set way, way too low. In the domain the iPhone was in, there was a very large amount of "must have" features for a product to be something that could succeed in the market. (Email, web, phone, SMS, etc.) In other domains, the amount of features for this is certainly lower. But, the bottom line is you should be shipping stuff you should be proud of that can stand on its own legs. The "embarrassed" point gets overemphasized and usually is misinterpreted to mean to ship garbage against your better judgement.
