[elicash]

I think the clearest interpretation of "ideas don't matter" is that first-mover advantage is, at best, overrated relative to execution.

Not that I endorse this. But I think it's a clearer way of saying it. The concern is that people are afraid to test their idea and get feedback to improve upon it because somebody may "steal" it.

[naasking]

Squandering your first mover advantage doesn't indicate it was overrated. If you actually listen to the feedback, then you're miles ahead of any competition given a first mover advantage.

[elicash]

It means it was overrated relative to the importance of listening to feedback.