After all instagram did something very similar, used VC investment to boost sale price. And it seemed to work very well. Can we expect some surprise news from github? I don't know, but that can sure be one valid reason for raising such money which they clearly don't need to work on the product in it's current form.
And that probably explains the anti-VC sentiment. In multi-level marketing (MLM) pyramids, there's a "business" which serves as an investment vehicle for the money to trickle-up: energy juice, women's cosmetics, etc. A cynic sees startups serving the same purpose for VC. Announcements of funding are publicity stunts to pump up the valuation and then dump it in an "exit". The main difference between now and the late 90's, as far as I can tell, is that insiders sell their shares on SecondShare during later rounds, instead of waiting for an IPO to sell them on NASDAQ.