I've done both. Bootstrapped a business to >$10m and (now) running a VC-backed firm. The models are different because the markets the two companies operate in are different. I see VC money as getting steroids in a competitive sport (not speaking from experience on that one...): it will save time, it will probably affect your health, but if you are indeed competing in sport,
and other competitors are doing it, you don't have much choice.
So, I would advise you to look around you: what is your market? is it that highly competitive? can you still be in that market without competing (e.g. a highly fragmented market)? do you want to compete and can you avoid it?
Also keep this in mind: a VC-firm is meant to exit, if not immediately, then eventually. But, a bootstrapped firm also has to exit at some point too: you'll either have to sell it (maybe at a loss), shut it down, or pass it down (death comes for us all). Are you willing to do any of these? that's part of the answer to "do you want to compete?" above...
So, I would advise you to look around you: what is your market? is it that highly competitive? can you still be in that market without competing (e.g. a highly fragmented market)? do you want to compete and can you avoid it?
Also keep this in mind: a VC-firm is meant to exit, if not immediately, then eventually. But, a bootstrapped firm also has to exit at some point too: you'll either have to sell it (maybe at a loss), shut it down, or pass it down (death comes for us all). Are you willing to do any of these? that's part of the answer to "do you want to compete?" above...