If you're familiar with how recruiters work or the general quality and response on job boards, it's hard to characterize it as anything short of disruptive.
I remember when Craigslist was the place to hire people who were ahead of their peers, when it was mostly unknown and considered too sketchy to be associated with any corporation concerned about their image that did have someone in the loop enough to have heard of it.
Stackoverflow was never like that, but it was more like that at the beginning than it is now.
The best examples are all sites that I've completely forgotten the names of because they pivoted or went out of business a long time ago. But they were cool for a time among subcultures that have good programmers so that's where you went to look. Plus by both being part of the same little unknown thing there was more trust at the beginning as well and it made the whole process easier.
A lot of IRC channels and mailing lists and forums are still like that and manage to stay like that because they are so anti-corporate/anti-recruiter. AngelList is the opposite, no one trying to make money tries to keep the majority of potential customers out like communities do. Doing so is a failure. And it makes a lot of sense to have both fundraising and recruitment on AngelList, so it will get popular and therefore worse at being a small community with a talent bias.
Is AngelList Jobs unknown (never mind a secret!) amongst start up founders (who generally have AngelList profile for both themselves and their companies)?
Is this job board "disrupting" the hiring industry which is composed of other job boards and recruiters that post to other job boards?