Says the dude without kids and a mortgage who can afford a couple of months without a salary :)
End of the day, requiring such a high friction approach to addressing basic issues sets up incentives to take no action.
It doesn't have to be a bluff, programmers are still in high demand.
And I'm not even in Silicon Valley, and I have no degree. C'mon!
So what you are describing is a situation in which there is zero long-term pressure for the company to improve or change their practices, because there is a never-ending source of people to replace the ones leaving, and as long as they're fine with the churn (spoiler: they are), they'll just chalk it up to the system working as intended.
If the software has any level of complexity, an org does not want to incur the cost of training a newly hired engineer and waiting 3-6 months while they get up to speed.
What about "stop putting me on call without compensation or I will leave the company"