From the company's perspective, the conditions are not equal, try as we might (and do) to make them so. They are working on the other side of the clock from much of their peers and technical leadership. They are 18 hours of flight away when it comes time to visit on-site. They spend more time, on average, commuting to/from work. They face weather conditions that preclude reliable commuting several weeks per year.
They face disadvantages inherent to their location and related to the fact that their location isn't the HQ. It's not their fault, but to make the economics make sense for the company, they are paid well for the local market, but less than the Bay area market. If wages in India were Bay area wages, we wouldn't have started new dev teams in India.
The condition of one experienced dev moving away to a different location (I don't care whether higher or lower cost) is different from trying to build a de novo team in a different location. You take with you the experience and relationships you developed and that makes you different from your hypothetical identical twin who is applying to work remotely from wherever you are contemplating moving.
We, like most for-profit companies, generally try to do things that increase profits.
We don't enforce that, as a condition of employment, you must accept share-based compensation. Employees are mostly [1] paid in cash and we let employees decide how much of that cash they want to invest in the company.
[1]-some executives are "forced" to accept share-based compensation as part of their comp.
Developers in India are generally paid less because employers can, which is clearly why companies look to employ staff in India.
As a developer living in the UK, while I don't work remotely (often), if I was in a position to do so and decided I was going to move to India, I certainly wouldn't expect my employer to cut my salary as a result. If they did, I'd be out of the door and looking for a new employer promptly.