I'd like to suggest that all the lessons learned here are
precisely what Lean Startup teaches-- with techniques that are meant to prevent you from spending two years in a death spiral.
Segue to edit of my standard rant on this subject: (originally posted on: http://news.ycombinator.com/item?id=3429906)
MVP != half assed, cheap, shitty product. It is exactly what it says: a minimum viable product, key word being viable. An MVP for a mission critical application or a cutting edge piece of research isn't going to be cheap or easy, because it needs to be viable.
Because of the name, many people make the assumption that doing a Lean Startup means not taking the time or money necessary to execute properly, this is not the case. Lean means conserving capital by focusing on iteration until you each product market fit, and only then ramping up sales or marketing, but again, if you're cracking a new market, untested technology, or going up against mature competition, even that phase of conserving capital and focusing in product may require a lot of capital.
Your product, when released to customers, needs to be usable, and needs to scratch an itch for them, otherwise it is inherently not viable. That's why customer development is so essential, it prevents you from making the worst mistake possible-- building a robust product no one wants. Even if you have the best product idea in the world, the only way to know if the features you add are having a positive impact is to measure the behavior of real, live, human users.
That being said, it's still your responsibility to stay relentlessly focused in your core value proposition. You can't build every feature you're customers ask for, only the ones that make sense for your product.
What we're seeing now is the lean startup backlash where people use the terms but don't really take the time to understand what they mean,.
The Lean startup movement is a powerful set of lessons that can empower entrepreneurs and save us from wasting our time and effort building the wrong things and chasing the wrong metrics, but I guess some of the lessons just have to be learned painfully through experience (it was certainly true for me).