It's not like getting a job offer in tech is free to the employee and can just be used as a casual "fuck you" to the boss. Even with the current tech market the way that interviews are currently done will use up a lot of your PTO to get through. If an employee is at the point where they are effectively spending money to get this information why isn't it viewed as a the employer's fault for making the employee feel it was necessary? I know I don't want to switch jobs frequently but when the company posts record profits but my quality of life is decreasing due to cost of living increases, what would you expect me to do?

OK, then the boss isn't able to get any specific reports on my performance, they can only ask me directly how well I'm performing or look at standards of performance. Going out and tracking my individual performance takes too much work and shows they don't trust me. Seems fair.