More importantly, the main reason people negotiate with one another is that they hope to achieve better outcomes than they can with either a default of no action, or unilateral actions. Imagine that the grad students sit down to the negotiating table with the people determining they pay. They ask for higher pay, and the other side says straight up “no”, and offers no concession whatsoever. What then? At this point, the only option available to the students is threatening some form of quitting, as they don’t really have any other means of leverage.
The point here is that even if they do negotiate, they must be ready and willing to quit if they want these negotiations to go their way, and if they aren’t (and they very much aren’t, as people who are willing to quit grad school simply do exactly that), they’ll keep making a pittance in terms of cash benefits.