What happens to the bad VCs?

I'm considering an offer at a top early-stage fund in my preferred vertical, but given I only have ~1 year of operating experience at an AI/ML unicorn, I feel like it's a risky play given that no one wants junior product talent (i.e. you need to have owned shipping a product from ideation to post-launch to be a competitive first PM hire) in the case I'm not a superb investor and need to switch back.

Realize the junior venture capital role is fairly new, but of those of you who've went operating -> VC -> operating, or have seen people go down a similar route, a few Qs:

• What were your goals, short and/or long term, going in? I've seen people set on becoming a GP at 30 and others who use it to build a skill set and then join a hot portco in a finance/BD/product role.
• At what point did you realize you were underperforming? Were there clear signs either internally (yourself, partner feedback, unable to push sourced deals through IC) or externally (e.g. portco founder feedback)?
• What differentiated those who excelled? 
• Any tips on what you would've done differently? 
• Where'd you end up? Do people move up-market (e.g. into growth), to lower-tier firms, go back to operating, or something entirely different?

I'm leaning towards taking the offer regardless; it's a risk worth taking imo. Letting an opportunity like this pass by seems foolish, especially given how unique & rare these seats are + my personal alignment with the thesis and team.
I spent my undergrad studying math; interning in research, quant, and tech growth equity; and now PM at a startup – if you're doing or considering something similar, happy to chat and ideate. Shoot me a DM!