That has limits too. Its not like you can hop 20 companies in 10 years and end up making like $2+ million an year.
Eventually you will max out of levels to get promoted too. Then the only options are to startup on your own or be an exec at a large company.
Plus Im guessing any reasonable increase in your levels comes with fair degree of risks, workplace politics, up-or-out workplace policies and if you have a history of hopping 2 companies/year serious shops aren't going to hire you to only replace you 6 months from now.