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They micromanage like crazy. I was selected for funding in 2022 and they wanted us to attend like 4 calls a week and tell them about our every eye blink. Luckily, we managed to get out of this before they wired the money.
From my cohort I heard they were less involved. To be fair it was early stages so I'd assume they changed a fair amount since then.
I hear they take a large chunk of your company for a very small investment.
It's relatively small amount, yes, but you have to bear in mind these startups wouldn't have existed otherwise. Same issue as equity amount for co-founder.