Sounds about right. I work at a company a lot of people are trying to work for. We had a rash of Googlers interviewing with us not too long ago. Turned out, most of them weren't actually interested in the work we do. Instead, they were trying to get counter offers to stay at Google. Brutal.

Likewise, I've seen our recruiters shit themselves trying to sell candidates because they had a competing offer from another A-list company. Getting competing offers is excellent leverage to maximize your starting salary / equity.