This is probably the most important quote from the article: "Of course, to brag about being a great employer, it helps to be one."

And that's pretty much the crux of this whole phenomenon. Rather than actually step up with better working conditions, better pay, and more appealing work culture, way too many employers are just trying to emulate the parts of startups they like (laughable work-life balance and overly loyal employees) while ignoring the parts they don't (actual perks, career advancement, equity lottery tickets, etc.). It's a cargo cult.