I currently work for a VC funded company and have worked for several in the past. I would not describe any of them as "frat house cultures". You're making some pretty sweeping generalizations.
The dinner with Al Gore was for senior partners and there WAS women invited, they just couldn't make it. Here's Mary Meeker on the subject:
http://recode.net/2015/03/16/liveblog-mary-meeker-testifies-...
> a highly qualified woman suggested they invest in winners like Twitter only to be ignored
We don't know the fully story here. They had already looked at investing in Twitter and passed. A mistake? Sure. But anti-portfolios are famous. Whether Pao is "highly qualified" or not is debatable. Has she made any successful investments? Was she previously a successful entrepreneur? Those are things that would make you highly qualified to be a VC.
I don't see anything "sickening" here.