Yup. This is the profile of most of the angels I know. The math suggests that you can't make a lot of money from doing it, but that doesn't need to be the goal of such investments. To your point, you're just helping friends.

Also, there's a comment a little ways down about access to YC startups, and I think the comment misses your point entirely: it's quite hard to have your money be accepted by a promising startup. I'm not a bigwig/influencer in the YC scene, so gaining access to those cap tables would be pretty tough.