This is interesting. I would assume that negative feedback from these people is less of a signal than positive feedback.
The baseline approval rating from someone who left the company is going to be lower than people working at the company. If an ex-employee is disgruntled or bitter it doesn't tell me that much, unless I hear the same complaint from a lot of people.
If someone left because another great opportunity came along, and they are really positive about their time at the company, I'd say that's a good signal.