For the most part yes but, what about ideas that are extremely simple but not so obvious? As in, some competitor with the resources can shell out a feature in maybe a few months, but a team of 2 would take about a year. Is that valid grounds for stealth or is stealth still dumb?
This seems like one of the few cases where full on stealth mode makes sense, and even then, only if the team is slow and the work so far amounts to nothing more than an elevator pitch.
If the idea is something a bigger competitor would actually want, they are probably better off letting the team do the ground work, then either acquiring them outright or copying what they did. I would guess the biggest threats are from other motivated small teams that could execute the idea faster to achieve the aforementioned acquisition exit strategy.