> that a prospective $2B investor has access to more information about the company's plans than we do and that their investment is at least some indication that there is a real product in the pipeline.

there is a funnel of investors: say retirement account holders put money into some retirement fund, fund manager put money into some "innovation fund", "innovation fund" put money in VC fund. All middlemen get % cut, VC likely watch slides about some product roadmap, but they more interested in closing the deal, get % cut and move on.