I'm not familiar with VTIP specifically, but the published yield for bond funds is very tricky. For one, I think it's typically given as an average of the last 12 months yield...so right now you're going to see a very high number for yield, but the yield going forward should be much lower...which presents price appreciation potential (TIPS yields down = prices up).  I think it is not unlikely the waterfall down in VTIP during almost all of 2022 created a potential reversion to mean opportunity. I would personally approach it not hoping for a high yield  but for price appreciation.

I don't like bond funds in general - no way to hold until maturity and the fees are hard to justify on top of AUM fees, etc. Now that bonds are viable part of a portfolio again, I've educated myself on buying them directly (Gov and corporate).