The problem with believing and teaching the myth is that you teach the student to cure a performance problem (too little HOGE power margin) by not descending. Sort of like telling a guy who is playing with dynamite to use earplugs.
The vast majority of mythical VRS stories are experienced by folks who hovered OGE with too little power margin, settled down and scared the crap out of themselves. It is impossible to get VRS in a helo with high power margins, unless you go down so fast vertically that you deserve to die.
Teach students to have 10% power margin before they hover OGE. Teach students that VRS will happen if they descend at more than 700 to 1000 feet per minute. Then you are teaching the truth, and in a way that will prevent accidents, not explain them.