silicon valley starts PERM from day1, lower tier firms require like couple years.

that's still absolutely normal regular tenure. You work for couple years, show your performance and convince your manager to initiate the perm process.

I have never ever seen anything even close to resembling the "servitude" conditions where tech workers are kept at one company against their will. Nobody is revoking your I-140, because you just transfer it when you change jobs.

re 60 days I agree, this is brutal and should be abolished. I believe H1B workers should be able to remain until the duration of their I-94 even without the job, to seek the new employment in case of job termination