This iPhone analogy is full of crap. Apple delivered the fisrt iPhone with the software it needed to be, in itself, very usefull! The app developers came after, when a user base had already been created.
The first iPhone had many flaws but none of these were false advertising, and it also had some unique abilities.
For example, it sported a capacitive touchscreen (touchscreens were mostly resistive back in 2007), it featured multitouch (you need a capacitive touchscreen for that), yet it didn't have 3G (it had EDGE), lacked copy/paste, lacked a repository ("app store"), lacked applications, and required a contract.
Add to that that Apple already existed, had a solid fanbase, and already released their first product for mass market (iPod), and well... Steve Jobs reality distortion field. Who knows what would've happened if Apple was a very new company with no such fanbase, history, or CEO.
I think it's wishful thinking. Everybody WANTS it to be the next iPhone, because the iPhone was wildly successful. That level of investing acumen unfortunately amounts to not much more than noticing that the iPhone happened. Like I noticed the Beatles happened, but saying my band is the next Beatles doesn't make it so. The iPhone and the Beatles were both products of very unique circumstances including a lot of plain random luck.