The point isn't that working at a startup is heroic.
The point is that if you don't believe in your core that the startup's mission is worth spending the last year of your life on, you're not the kind of person who'll do what's necessary to make it happen.
Maybe you can't think of a cause you'd make that sacrifice for, but many founders and startup employees can. I don't think that's disgusting.
how cynical is it to demand this of your employees when you are the founder with 10-100% of the equity? and how easily impressed (or young / stupid) do you have to be to buy into this as an employee?
Your point now is that employees should be rewarded more. That's a fair point [1]. But it's still separate to being dedicated to what you do.
There are several occupations people enter knowing there is little monetary reward. Schoolteachers don't make much but they are dedicated to building children's lives and can't imagine themselves doing anything else. So are artists and generally anyone who has found their calling.
If I had a only a year to live I probably would still be working on the things I'm working on now.
[1] - It's a fair hypothesis that the most valuable company would be the one where everyone involved is rewarded in proportion to the value they generate. You can't build some kinds of companies if you keep 100% of the equity as a founder btw. Look at Alibaba's $210b IPO and Alibaba's founder who has only 8.4%.
The point is that if you don't believe in your core that the startup's mission is worth spending the last year of your life on, you're not the kind of person who'll do what's necessary to make it happen.
Maybe you can't think of a cause you'd make that sacrifice for, but many founders and startup employees can. I don't think that's disgusting.