He is right. 100% accurate. People (VCs included) have large incentives to pretend to have passion for purpose.
Brand loyalty, religion, patriotism, hiring/onboarding, romantic relationships, and therapy are all other systems that work according to this principle. So is the expression "fake it till you make it" - at some point, you cease to be faking it.
[1] "Vision" is another term that's like this. Most (successful) entrepreneurs don't start their companies with a grand vision of what they want to accomplish. Rather, they start with a tiny need that tickles them. And then as they continue working on it, the need gets more distinct, they need to enlist more people to help, and eventually this tiny feeling gets massaged into a very big, very concrete vision that's effective at getting people to buy in.