The problem with this take is that over time, those incremental improvements become harder to find for someone who has established a pattern of job hopping.
It’s not a big deal when you’re 24 years old and you’re not really owning major initiatives and long-term projects. It becomes a big problem when you’re at 15 YOE and your resume has ten different companies where you never stayed long enough to even see the long-term consequences of your decisions.
I’ve seen a lot of pattern job hopper candidates who clearly have “One year of experience repeated 10 times” who can’t really compete with someone who has fewer jobs but stuck around long enough at each company to make a bigger impact.
If job hopping continues, it catches up to you later in a career.