I think, like many things in life, there are advantages and disadvantages to this approach. The advantage, like you said, is to not get stuck doing the same thing for too long. Although I'll notice that when working in large companies you can move to different teams that work with completely different technologies so there's no strict requirement to change the company because of that.

One of the major drawbacks with changing jobs too often is that certain problems simply require very long time to obtain the expertise to make significant improvements to the state of the art of that problem space. To give an extreme example, if you look at the scientists winning Nobel prizes, they spent their entire lives dedicated to pursuing the answer to one question. Working in tech may not require an entire life dedicated to one problem, but it can easily require a decade or more to become an expert in a problem domain.

Not to mention, getting a comfortable hold on the internal tools, procedures, APIs, etc of some of the larger tech companies can take years, that's even before you start learning to become a domain expert.