I struggle with this all the time
I try to put myself in the shoes of VCs hearing AirBNB, Uber, Twitter and other pitches. I'm pretty sure I wouldn't give them money. (and then, I would post on HN saying "How I missed AirBNB. Including email threads with the founders and beating myself up).
This is indeed the premise of VCs but even with that in mind, some startups being funded are just ridiculous.