it's still the case, but there are never 1,000 investors, there's a couple dozen VC firms, SPVs, and individuals

if you're smart.

I don't think this is an SEC problem, they are fully aware that people subject to their jurisdiction can jump through many hoops to circumvent them. This shows consent on the investor's part well enough, and capital formation regulations do not burden the investor at all, they are only constitutional because they burden the organization raising capital, who simply needs to do a cursory check - not an in-depth one. (level of depth is based on which regulatory exemption is chosen)

So as long as you separate concerns the SEC is satisfied.