If you subscribe to this logic then doesn't it follow that you're trying to rehire only 50% "bad" programmers from a pool that is (again by your definition) newly comprised of individuals a previous company recently identified as 100% "bad"?

This not only assumes that you can identify bad workers, but that you can also identify some percent of "good workers that other companies identified as bad workers".

Shameless profit taking by executives and shareholders seems a lot more likely. Google and Microsoft providing PR cover for smaller companies to do it under the radar.