It's definitely satire, but I feel Silicon Valley did a decent job. Yes they absolutely made things up, but it was more about the backend and pushing updates and servers being erased because someone accidentally sat a drink on a keyboard.
In an interview about silicon valley the creators said they interviewed a lot of people in the industry and had to actually cut out a bunch of stuff because it wouldn't be believable by people outside the industry. One small example was the valuation. The VC people they talked to said pied piper would have gotten a lot more money than what ended up being in the show
Yeah, you can definitely tell the show was filtered through the lense of "what will the average person understand". I just appreciated the focus on actually building something vs just seeing the business side of it.