It's an availability bias. You're noticing the worst founders and VCs, because the worst of them work to be noticed (some good ones, too, but all the worst ones). But as long as you understand the modality, it's also fallacious to write off a whole financing model just because its douchiest practitioners rub you the wrong way. Remember Sturgeon's Law!
I remember when "silicon valley" came out, and after watching a few episodes I thought it was so stupid and unrealistic... This isn't how startups operated.
Then I talked with other people in the startup world who said it was a perfect match.
That's when I realized that I just worked at competent places.
Absolutely. The successful sleepers that are founders and VCs are sleepers very deliberately. They don't want the notoriety. They're already well-known enough by the people that matter, the outcomes they've generated. They are already freed by the wealth they've generated. What does notoriety do but subtract from that?