In a nutshell, 'Round A' is now a form of scaling money. Early, but essentially: you need to build a product that the market really loves, before you get any substantial money.
It would seem that VC is really de-risked themselves, obviously to their advantage. This is somewhat the natural equilibrium in a world where it's easy to start some kind of companies with little effort.
However, there are always going to be a lot of initiatives that require some capital to make it work. This is of course, very dangerous territory for VC to play in (i.e. before Product-Market-Fit) but then, they do have 'Venture' in their titles.
It's to the point wherein we could start to consider Round B and later firms merely a slightly different form of Private Equity.
Is anything really that important going to be 'productised' for $500K-1M i.e. on seed money?
And really, it's interesting in that, if a company does actually have good product market fit ... traditional VC terms might seem a little expensive.