If he managed to come up with a multi-page business plan, get enough money to recruit 8-10 developers, get a couple million dollars in funding, come up with an actual spec himself, trust the team he assembled to write produce an mvp with almost no oversight on his part in 6 months, and have enough personal money to go vacation in a popular tourist destination for months, then I don't think he fits into the "doesn't know IT stuff" category, the "easily replaceable" category, or the "no track-record of success" category.