On paper, the black and yellow-coloured team appear to be struggling in their second year since the Lotus takeover, scoring just two points in three races.
However, Vasseur told France's L'Equipe: "I do not share your judgement.
"In pure performance, they are there, and Nico [Hulkenberg] is the perfect driver for a renaissance team."
Indeed, it was Vasseur who selected German Hulkenberg for 2017 and beyond, even if he himself decided to leave Renault amid political problems.
Asked if it is frustrating to now be left with only his Formula 2 team ART to look after, he insisted: "Not at all. There is zero frustration.
"Ok, I worked damn hard last year, as the whole team did, to build something good, and I will not be there when the results come. But I'm a big boy and I made my decision on my own."
He also said he is not too sad to have said farewell for now to Formula 1, even with its much faster cars for 2017.
"No, what I like is competition, not the car, and the public wants a fight, not a performance," said Vasseur.
The season continues on April 30 with the Russian Grand Prix.