This dynamic will tend to make "superstar" VCs look as if they're better (relative to other VCs) than they actually are. (Because every startup will want to be

This dynamic will tend to make "superstar" VCs look as if they're better (relative to other VCs) than they actually are. (Because every startup will want to be funded by them, so they get to pick the most promising ones, and if VCs have any ability to distinguish good prospects from bad then the superstars will tend to get better results than their rivals who funded the startups rejected by the superstars.)