Well, this is mostly only true of the high margin, hoping-for-viral-growth so loved by the internet VCs.
There are a ton of highly profitable, relatively low margin businesses (at least compared to internet services), like consulting or something with high sales effort, like enterprise products. In those cases, you can easily imagine your growth limited by, and accelerated by, your ability to hire and grow the right talent.
VCs aren't merely hoping for hypergrowth, their business model demands it. The results for any given VC fund are dominated by 1 to 3 hypergrowth companies. Therefore, hypergrowth companies should be their sole focus.
You're right that consulting companies can be great businesses. A friend of mine sold a 5 year old consulting company for a good tens of millions last year. That's a stellar result for the founders. But few consulting companies are within a VC's "strike zone".
There are a ton of highly profitable, relatively low margin businesses (at least compared to internet services), like consulting or something with high sales effort, like enterprise products. In those cases, you can easily imagine your growth limited by, and accelerated by, your ability to hire and grow the right talent.