In a way, yes. the VCs know it is a scam, which is why they are doing it.
> The never listed coin is the best; the listed, non-VC coin is better; and the listed, VC-backed coin is the worst.
Precisely.
It is exactly what happened to Internet Computer when that launched on Coinbase and Binance, as the author in this article describes, as well as I did [0][1]. The same happened especially with ENS [2][3][4] and the same happened with DESO. [5] These tokens listed out of no where on Coinbase or Binance, so that means that insiders who bought in at private token sales are using these exchanges to unload their holdings on to the retail buyers on the exchanges when they list.
By the time that has happened, it is too late and expect a pump and dump on the token price, hence why all these tokens are 'under performing'. As for the ENS token, they are doing it all over again via another airdrop [6], just look at how much ENS they can 'airdrop' and gift just to pump the price again.
That is the hype of 'web3' illusion and scam.
[0] https://news.ycombinator.com/item?id=27492858
[1] https://www.binance.com/en/support/announcement/33b6e8116ce5...
[2] https://coinmarketcap.com/currencies/ethereum-name-service/
[3] https://www.binance.com/en/support/announcement/6dcf651bba03...
[4] https://twitter.com/coinbase/status/1457857919068737543?lang...
[5] https://coinmarketcap.com/currencies/deso/
[6] https://decrypt.co/87505/coinbase-votes-favor-another-ethere...