I am an accelerator "fanboy" having run LaunchBox Digital in Durham, NC and recently launched Triangle Startup Factory in January.
Here is the meat of the issue - - They are not for everyone. But, it is a perfect model for many. There is a Darwinian aspect that does weed out many who are not ready for that particular startup path. But there are many paths to success.
Like most endeavors - approach with eyes wide open. Understand the expectations and value delivered and if it matches up with your goals - welcome. Sounds like taking on VC investors.