Except there are companies at the other end of the spectrum that don't seem to care. Apple was almost legendary for its long hours (not sure if that has changed post-Jobs), and perhaps as a more extreme example, the games companies are especially notorious for treating junior devs like garbage. They get away with it because people want to work in the industry for reasons unconnected with pay or work-life balance.

Unfortunately, I don't know if those new grads realize, when they work in a "sexy" industry, that they are basically paying, with either salary or working conditions, for the privilege. It seems like many don't realize this until a couple of years in, when the shine wears off...

At least at Facebook, you're starting out with your eyes open and know what you're getting into.