I agree with you about human happiness. I'm well aware that being born in America puts me among the global top 10% by wealth.
If I could play the devil's advocate for this story--we've only seen the founder's side. In this blog post, I see no description of what the pitch to the VC was like. It's possible that these doubts and struggles were not discussed between the founder and investor. If this is the case, the investor has a reasonable stance for re-evaluating the verbal commitment. Why expect full disclosure later when you're not getting it now?