Earlier quoted context omitted.
I'd say their community is their primary _asset_. All products are (ought to be?) built around an advantageous asset, whether it is exclusive data or a novel workflow or special insight. But you design, engineer, build, and test a product, not a community. Though we do try.
Hmm that's a pretty ephemeral "asset"... and it's an asset that is directly tied to your ability to pull funding. Even if you technically don't directly mold the community, it doesn't do you any favors to try and think of something else as your "product" just because you're uncomfortable with the definition.
Value doesn't come only in the form of software. Only software devs believe that.