Unlimited PTO is bs because when you give unlimited time off people usually request less time off, and companies don't have to pay you for unused time off when you leave. The potential to punish for taking time off isn't a thing anywhere I worked that had the unlimited deal, but the result was typically that the average employee would rarely ask for more than 8 days a year because they didn't feel like they had anything worth taking time off for and there was no use it or lose it mentality either.

Unlimited PTO is always in the company's favor because even if you try asking for more time off than you might have been granted your manager can simply claim that now isn't a good time, or say too many people have asked for the same days off, or point out that others haven't taken as much time off so they should get more time off before you do and because it doesn't risk you not using limited time off they can feel like it's not a problem and it leaves you with no way to prove a loss.