Either you don't adjust the pay when they move because you are already paying everyone an equal salary. Or you adjust it and pay everyone a local salary.

Gitlab does the latter.

I totally agree. But kirbypineapple's point was about someone's salary not being cut when they move. That's much less interesting than someone in Thailand getting the Bay Area salary when they're hired.

If Kraken pays the same salary for a role regardless of location when they're hiring then that's awesome. I would find that incredibly surprising though, if only because advertising a role on 50* the typical local salary would make hiring really hard because you'd be swamped with low quality applications.