I criticize, but uphold the conclusion of, an argument by McLarty to the effect that New Foundations style set theories don’t form a suitable foundation for category theory. McLarty’s argument is from the fact that Set and Cat are not Cartesian closed in NF-style set theories. I point out that these categories do still have a property approximating Cartesian closure, making McLarty’s argument not conclusive. After considering and attempting to address other problems with developing category theory in NF-style set theories, (...) I conclude that NF-style set theories are not a good foundation for category theory, because of numerous limitations introduced by their stratification restrictions. (shrink)