Is Joel Spolsky Overrated?

When I was getting through my feeds today, I spotted this comment, in the context of Joel Spolsky discounting the enterprise-readiness of Ruby-on-Rails and David Heinemeier Hansson responded with an attack.

Spolsky writes well, but I find the self-promotion for Fog Creek more than a tad irritating. He makes absurd claims about hiring only rock-star talent, but in the end, what does his company produce? A bug-tracking system, not exactly rocket science, and a user-friendly wrapper around VNC. I don't have the slightest clue about Windows programming, but even I could produce a stripped-down version o UltraVNC from source in about 2 days' work.

Personally I like what Spolsky has written, but I could not help myself complying with that comment. He has written many articles on sourcing only the great developers to work at Fog Creek Software, providing them private offices, as though Fog Creek is full of code hacking superstars. Then you looked at their product -- a web-based bug tracker coded in a proprietary programming language, a simple web publishing software for static contents, and a remote access built on top of VNC. Nothing revolutionary -- certainly not the kinds you expect from a team of superstars.

So the question is, is Joel Spolsky overrated? Or maybe his ace team still have that killer application in the cooking?