It's different if the level isn't represented in the title - if they went from one band to another but the title was the same, I don't see a problem with putting down something like "Software Engineer, 2016-present" without wasting space on each promotion.
Now, I don't object to adding a line like: "promoted twice from Software Engineer 2 to Staff Software Engineer" or whatever, which I think is a good middle ground (and I would put this as the very last, least important entry for that company)
How much does that matter to you, anyway?
Thus I have to make sure either way and probe a lot unfortunately. Did they hold the title for the last 2 months and are jumping soon after? Will they do the same here? I want to know about and see the progression. There are situations where it is sort of irrelevant but in others it is detrimental if I have to probe.
If you are say in year 5 of your career and at senior level at just one company I want to know if you were a junior when hired out of college, were super awesome and made intermediate after one year and have been senior since year 2.5. You can show that to me right on the CV by listing it individually. If you just put the end title and that's it I will assume that you made senior this week and are trying to jump ship. This doesn't mean we can't figure it out together in the interview if it gets to that stage. But it sets a certain tone and connotation for the entire conversation. A bias to overcome.