I think it's weird how hard it is to convince your colleagues and your management that you're worth 50% more than you were yesterday by continuing to work, yet how easy it is to convince the same people of the same thing by quitting.
I also think most companies realize how disadvantaged they are in salary negotiations in this job market, but it's favored employers for so long that very few of them have any idea what to do about it.
Less risk of that happening if you are a fresh face starting out with 50% more. You probably wont share and plus, who knows what kind of hot shot you are?
Plus, your leverage at the point where you decide to take the job or not is at its highest. They'll infer that walking away is much easier for you than it is when you've spent 2 years somewhere and you're settled.
I've done this as well, but I actually liked my current job and wanted to stay. I had a potentially new job lined up which would have paid much better, but it also had many downsides. Primarily a much long commute and a pretty boring industry that didn't interest me. So I was happy to split the difference between my current salary and the new offer and keep doing the job that I liked.
This is why you should keep your Leetcode chops up as well as your whiteboarding and interview skills. Don't let hating interviews stop you from fielding another offer.
Still others have thrown out raises without being pushed but they were critical organizational lynchpins getting 10% raises when the market would bump them 50% minimum. That's even worse.
Fundamentally, I think the surplus value from these tech workers who hate interviewing and get "stuck" with cost of inflation raises are often a lot more profitable than we'd give them credit for, and a lot of companies are happy to risk losing a high performer if it meant keeping 3 profitable grumbling malcontents on lower pay.