Yes, I have taken the test in question.

The vocabulary is not that difficult. If you regularly read literature as a child and adolescent, you will know most of the vocab in the test. Most people consider reading and having a decent vocabulary as signs of education and intelligence.

Beyond that, the verbal GRE is mostly about making connections between different words and concepts - just a test of reasoning ability.

TOEFL/IELTS are for a completely different purpose. That's why I said that the verbal GRE is only really meaningful for native speakers. You wouldn't expect someone who learned English as a second language to have the same command over the language as a native speaker. That doesn't mean that they're not smart.