The Build-Operate-Tranfer model is easier said than done, from my personal experience. For starters most clients get worried with the legalities and have concerns about the trust factor . Unless proper contracts are in place, most of the clients consider it as a scary proposition, especially when it comes to dealing with the courts/system and other formalities in developing countries.
In general, writing off startups just because they were built upon off the shelf scripts isn't right. As Joe#15 pointed out above, an angel or a VC capable of investing $1.5 mil is not dumb enough not to understand how the $1.5 mil is going to provide them with better returns.
Did any one try contacting MeraVideo's founders to get their perspective?
Now, if someone is simply bamboozling, then that's completely a different story and in no way means that successful startups cannot be built using cookie cutter scripts.