When a company gives you options instead of cash, they are making a bet with you that they can make a better return on the cash than you can. They are hoping they can convince you that cash_in_your_hand_now < value_of_shares_in_the_future, but in order for them to even consider making the bet, they have to expect that value_of_shares_in_the_future < cash_in_their_hand_now.
Yes, and things don't go as expected 100% of the time. Again, that's the whole idea here.
Great argument for paying people in lottery tickets!
I mean, yeah. That's what this all is, that's why people refer to options that way. Thing is, people win sometimes.