Listen, the money isn't free. It comes with a few protections (for them) and obligations (to them). If you've got good leverage when you set up your terms and go with a good investor, I don't think it has to be that bad. I know plenty of people who like their investors. Many people who take money seek investment for their second effort (even if they're rich and don't need it).
Bumbling board members are a risk in the same way that (as the OP points out) a pile of money creates the danger that you'll hire too fast and build a meeting-heavy company. You need to be smart and disciplined. Desperate (or unlucky) entrepreneurs can end up with crappy investors and undisciplined entrepreneurs can end up with 12 VPs and day long meetings before they even have a product.
Clearly, anecdotes abound and there's no hard data... But I think the only one who was implying that there were any rules was the author.