>It depresses wages, mostly for internal employees who aren't paying attention bc they're content with their jobs.

It is just wild to me that this is where society landed. Imagine you are a business owner. Wouldn't employees who are loyal and happy to come to work be the exact people you want to keep long term? These are people who know your industry, your business, your customers, and your product. They are your institutional knowledge. They are drastically more valuable than a new hire who has to spend years learning this all. But instead of rewarding that loyalty, we use it to squeeze out an extra few dollars of profit regardless of the consequences. It is bizarre.