Except that's not what really happened, is it? Restructuring companies is normal. Laying off people, also normal. Laying them off AND calling them publicly low-performer (especially when they're not) is a whole other thing. I don't think we promote job hopping. Not one company I have been to promoted it. Recruiters might, because it gives them more opportunities to make money. Some engineers use it to make a quick buck too, but in my experience it's a much smaller group than those who stick around for a good while.

Finally, you might not have heard but Meta just raised their leadership's salaries by 200%, and lowered stock benefits for ICs by 10%. So, no, not a good or fair deal.