> The points in the post are reasonable provided there's fair equity for the employees

This is maybe a fair argument for a very small number of founding engineers, who start with multiple percentage points. The idea that it extends to employee 200 is a fantasy because you are asking them to commit to a degree that you will never be able to commit in them.

Give a shit about your employees first, and you will find employees that give a shit about you. Asking them to centre their lives around your company when you will easily sacrifice them at needs is deeply flawed.