Your comments

entrepreneurs gives themselves a lot of excuses.. :P 
After being on both side, I would not say mentality towards VCs is generally negative, perhaps more of "fear". Fear of not knowing what's going to happen afterwards. Fear of getting bad terms (since they have no idea what good terms anyway!). Fear over lost of control.
Agreed. Unnecessary paperwork for little gain. Then again, startups doesn't need MSC to succeed. (except the part where MSC helps with hiring foreign talents)