I'd be very suprised if this is the case, I just finished a few months of interviewing and very few places outside very small startups deviate from this format.

Not saying I am the very best, but I just didn't find opportunities for anyone to out earn by skipping the FAANG style loop. Unless you mean getting lots of equity and riding it to an outsized liquidity event, these places just tend to be not competitive to the top FAANG compensation; you would join for other reasons.

Yeah, but the worst will also have an easier time. Missing out on a great developer is still a good deal if you also prevent 10 mishires.