At some point these VC guys are going to figure out that the currency itself is the best investment opportunity and the businesses and infrastructure surrounding bitcoin is secondary.
It sure would be something if any of these VC guys didn't actually have their own private stock of exposure in the Bitcoin currency as it stands over and above their holdings in peripheral ecosystem ventures. I get that many of these outfits will make plenty of money as more adoption happens but they should certainly be double-dipping as well. 
I'm sure most of them are. However, a lot of these companies that are starting up will stay alive even if bitcoin is replaced by something better. I think some VC's who are more risk averse are waiting for bitcoin to be ironed in a bit more. In my opinion, it's already too late for anything else to replace the network effect of bitcoin unless something is invented that is as groundbreaking to bitcoin as bitcoin was to the old money/ value transfer system.
