The "salient point" as you put it suffers from a huge acute case of selection bias and survivorship bias, two deadly diseases that kill the argument immediately after it's born.
Indeed. Not to mention the Internet was basically a wide open green field to build companies on in those days. There is no shortage of B2B focused web-based software in 2016.
I agree with the huge difference between 1998 and 2016 decisions. Soon it will be like starting a car company in 1930s: was possible in 1905, became impossible in 1930