Somewhat, but not quite...Real Estate brokers get a cash commission, not a piece of the home value. But the analogy comparing AngelList to an MLS makes sense.
Any real estate agent in the UK offering that would get laughed out if town - 2% is common, 1% is realistically negotiatable
Sometimes a FSBO seller will offer to pay a buyer's agent 2.5% or so, unless they don't want to work with agents at all.
It's a waste of money IMHO, but some people like to have an agent involved. I've had far better luck selling property on my own than using agents though.