Founders

vc is the wrong model for 99% of builders, but it's the most accessible way to get funding for an idea

tells you something doesn't it

In my opinion, it is the wrong model for many many startups that the need for capital or need for smart money is not the key element for the next growth phase. 

But for many startups this is the key element. If a startup wants to fight regulatory environment, they probably benefit from having smart money in. 
If a startup with to diversify their treasury, probably a strategic round is beneficial for them. 
If a startup needs capital to scale the team and scale the infrastructure for the next 10x improvement. Probably is good to have a high vc round. 

But if the founders are raising without clear goals for the capital. That means the capital is not strictly necessary. And they will end up, increasing their personal salaries and benefits, rather than scale the startup. 

Probably smart vc will be out. And they end up with bad VCs and bad people. 
A lot of capital circulating ready to be burned.