Tell me why a room-and-board-and-bandwidth incubator is a stupid idea
wheels: I think the problem would be the isolation.  It could end up as the blind leading the blind.  The advantage of most of the "accelerators" is that they're run by successful entrepreneurs, bring in more to serve as mentors and provide a network of successful entrepreneurs on top of that.  Since you'd be competing with that, you'd probably only get the folks that didn't get into those places and then the most successful startups would leave to go to startup hubs.