Oh no don't get me wrong - the site is great and I expect it'd be very useful for
any entrepreneur, whether seeking investment or not! I'm commenting on the GP's post, which implies some people aren't capable of answering questions this quickly because they have a different mental processing style.
The reality is they need to realise they're approaching people with little free time who have to quickly sort the wheat from the chaff, and asking basic, targeted business model questions like these are a fair way of doing so.
These types of questions aren't meant to make any sort of statement about the person's worth; they are there to determine (a) if the person, at this point in time, is investable as an entrepreneur at the most basic level, i.e. do they understand the basics of business, and have they done their homework with respect to their business; and (b) whether the results of that homework suggest a business potentially worth investing in.
A person with positive scores on both these accounts would be able to easily answer these questions in the time allocated. For the remainder, either they don't have a viable business model (fail at (b)), or they aren't familiar with business (fail at (a)), and that's why the site is valuable -- it gives the latter experience validating their business model before the pitch, which may otherwise cost them a missed investment opportunity.
(That being said I didn't like some questions: "Tell us something surprising you have done" or "What's the funniest thing that has happened to you." Have a few beers with me and all kinds of stories will come out, but I don't have a reverse lookup for my experiences -- my mind goes blank when I'm asked questions like these! That being said, it's good to be aware they might be asked, and to at least prepare in some way to respond.)