There are REITs that generate 12% dividends you can easily buy, which would be $120K before tax. 3-4% is extremely conservative and you could certainly withdraw more.
It’s also less about “never making another dime working” and more that you don’t need a traditional 9-5. You can and should figure out other sources of income.
There are investments that return 10+%, but that doesn't mean that's how much you should take out every year. The 3-4% (usually 4% for retirement savings) is to buffer for years where you get negative returns. I've never seen anyone recommend withdrawing 12% a year with plans to have the nestegg last a long time.
Certainly there is an argument to be made for working less and living with less, but for most people $1M invested doesn't check out. If you're relying solely on returns from that investment, then conservatively you can only safely withdraw 3-4%, which works out to 30-40k a year. That's close to full time on minimum wage in some states. While that's enough to survive, not sure if that'd be a fulfilling life for most, even while single. What happens if you have a family later?
EDIT: Also not sure how many can actually save that much in 5-10 years. That's 100k - 200k of savings after tax. Even with compound interest, that's pretty tough for most I would think.