It seems like VCs make their money by hoping someone dumber than them is willing to buy out the business, I feel as though generating revenue or sustainable bus

It seems like VCs make their money by hoping someone dumber than them is willing to buy out the business, I feel as though generating revenue or sustainable business models is secondary to being able to run massive losses, convince someone else (or the market) that profitably is just a few quarters away so that they buy the business at an inflated price and when it collapses use it as a tax write down.