It's true. It's the difference between 'hustle' and 'hustler'. I think most confuse 'hustling' in the sports sense, with 'being a hustler' in the black-market sales sense.

I think Fred Wilson's quote is referencing entrepreneurs who 'hustle' and try very hard/use alot of energy in the sports analogy --- and NOT entrepreneurs who are 'hustlers' and use shady means to fulfill their needs.