Dave strikes me as rude, obnoxious, and difficult to read. But more importantly, he strikes me as correct. The vast majority of VC's do a terrible job at investing. He's bold enough to try a new way - the index fund of the startup world.
As they say, those who say it can't be done shouldn't interrupt those who are doing it.
Who knows if it will work, but I'm eager to see the results.
Edit: when I say Dave, I mean his writing style - I've never met the guy.