Ask HN: Is applying to Y Combinator worth it if you aren't an insider?

I see the application button on the bottom of HN occasionally. I even created an account and started filling out an application.

But I'm hesitant. The upside is a potential initial seed round into my business. The downside is... wasted time?

In terms of cost/benefit, it seems pretty straight forward. But I get the general impression that applying without knowing someone or being an advantaged class means it will be a complete waste of time to bother applying.

These threads come up from time to time, and I see the smattering of responses, "totally worth it" and "not worth it at all". I also see the kinds of companies that get funded and they aren't typically the focused, practical, cashflow positive in short order sorts of companies.

I'm torn.