It won't destroy the company. Rather, it defines it, for better or for worse. And it may remove the connection to the founders' vision for the company.
How is that not destroying the company from the founder's perspective? Is there any way to take the "don't accept VC money" relevant to anyone that's not a founder?
Your business entity will still exist if you take VC money. However, the VC now has a say in the business and its profits, while their target may not be aligned to the founders' vision, hence a wedge that splits the company from the vision. That wedge may immediately divorce (what most would call a destruction) or it may take time.