Want to post your personal hacking online under your real name? Nope, sorry--"everything you do belongs to the company, and we can't take the chance that you might accidentally post some uber-valuable trade secret." So rather than risk losing the job, you just find some other, not-publicly-visible way to spend your time.
Maybe this group of developers isn't viewed as interesting to many employers, and if that's the case my argument isn't worth much.