Actually, I think that FogCreek is trying to lure great developers to their shop by providing a killer environment (as codified in Joel's Test). Having worked in noisy, un-appreciative environments, I think even 10 points on Joel's Test would be a great offer.
Their products really don't feel like the hottest and sexiest projects to work on. But what I've heard about them is that most of FogCreek's users really love FogCreek's products.
(It's funny though now that Joel is also a Paul Graham fanboy and Paul keeps touting how no self respecting hacker would ever work on Windows. I wouldn't object working on Windows, but it would be a little minus nevertheless.)