Can Product vision be co-created along with stake holders?

Yes, that would be ideal - a group is likely to provide better framing of the product vision / mission than an individual. It's a challenge to come-up with a vision statement for the product & as a group who are closely involved in the product, as stakeholders - investors, founders, sample set of consumers. Vision is essential something that the product should achieve & something that should make sense to the end users, in this regard framing this along with stakeholders seem to be good approach.

-Bhaskara

Why is it hard to create success on consumer based products?

It seems easy & quick to get an idea on the consumer facing web products, but it is tough to monetize & make it successful, below are some of my thoughts:

1. How do you attract the user to your site & retain them?
2. Create repeat visitors & keep them on your site?
3. Generate page views in 100s of thousands or millions
4. Invite user to join the network, away from their current networks?
5. Ability to have unique value proposition to the product is a challenge

-Bhaskara