Disclaimer: I haven't taken any funding, and I'm outside of the SV sphere so probably I am wrong, but I do run a SaaS making sub $10k MRR so I am thinking of applying....
I think "It depends". If you have an unproven product, a $120k investment + mentorship in exchange for 15% sounds pretty good to me.
My situation makes the monetary investment a lot less important. For me the value would mostly be in how applicable the mentorship would be in my situation. Is 8% worth it? Maybe, maybe not. I think I'll end up waiting on the next round before applying. (and try to fix my obvious defects in the meantime)
