Venture capital today is clustered in just a few locations - Silicon Valley, New York, Boston, and D.C. It's far from efficiently distributed and accessible.
Venture capitalists certainly create value for themselves, but they also singularly create value for the rest of the world.
Many venture capitalists say they're looking for the next big idea. But they aren't, really; they're looking for something derivative, because derivative is safe.
If your business had no risk, you could go get a bank loan and call it a day. VCs like risks - without them, venture capital wouldn't exist. But they need to be risks that VCs are good at assessing and managing.