He was talking about how they (VCs) are not in the business of vetting ideas - but pursuing sure things. Yet all the rhetoric around the VC industry says otherwise.
It really just boils down to, networking your way into a strong personal introduction is a trivial task compared with one hundred other far more challenging aspects of launching a successful startup, and every VC in the world knows this and uses it as a filter, because it's true and it works, so there's absolutely no reason they would or should deviate from this logic.
