I will even add that projects that don’t have big funds can’t afford big marketing campaigns and can’t multiply CEX listings in a short period of time.
This keeps away moonboys who are only looking for making a quick buck on a pump.
So some people see those projects as NGMI while it can be quite the opposite. How many projects have spent 100k-200k in marketing and listings, the token price went 50x up in a day and then 99.9% down the same day.
Funds can give a nice push to a project if and only if there is a clear, realistic and coherent roadmap, a skilled team and constant development. Otherwise the money will just be wasted and the project will eventually die.
While projects without big funds have to think carefully about each step, manage a budget, and if they keep delivering on the long term despite the bad market conditions and the lack of hype, it means that they build with passion and are likely to make it a day or an other. Of course it will depend on other factors (ability to fill a gap, to bring a good solution to a problem, to gather a community,…).
So no VC to back the project = a long and hard path, but it doesn’t necessary mean scam or failure. Furthermore, not being backed today doesn’t mean that tomorrow VC’s won’t be interested in joining the adventure.