In regards to the first point, note that it's $6000 per founder as well, so they are investing between $6000 and $30000 per company. The amounts seem to be in line with other tech accelerators. Also, the hope that these tech accelerators / incubators seem to have is that the money is only a small part of the value that they bring to the startup. The mentorship and connections that they will supposedly bring could be worth much more than the seed funding.

That said, since we don't know their ability to bring in good mentors and connections/investors, it might not be a good idea. So I kind of agree with you there.