A better criticism is it's impossible to come up with an objective definition for "top" for seed stage companies, it's really just their opinion of who they like the best and they're masquerading it as being successful investors. They don't have a track record and they're just regurgitating what every investor says - "we pick the best because it's our job!"

They're spewing bullshit. That opening line alone tells me they're copying every other VC (and most VCs lose money) while simultaneously portraying themselves as being better than every other VC.

YC succeeded by completely subverting what everybody thought VC had to be. You can't expect to be better by doing the same thing as everyone else.