If the angels on AngelList are happy with 5-10% returns (per Jason Calacanis) and those are the types of companies they're funding and finding on AngelList, doe

If the angels on AngelList are happy with 5-10% returns (per Jason Calacanis) and those are the types of companies they're funding and finding on AngelList, doesn't it make sense that VCs would "opt out" of this market given 5-10% is not what they/their LPs are after? After all the drama and histrionics, it seems that the 2 investor groups may just have different returns expectations. Nothing wrong with that.