I've been lucky to work in consumer facing engineering that isn't soul sucking. In fact, it's market segments that I find interesting as a consumer too. I still optimize this way because I'm in a place in life where I want stability when my head hits then pillow in my home that I have a mortgage on. I have a family and stability yields solace and solace yields clarity of mind which allows me to be a better employee. It really is a virtuous cycle.
Excess perks, I don't care about. I can buy my own drinks and coffee. But a company that isn't taking bigger and bigger risks is a company that is at risk and just ignoring it.
An interesting question then follows: are those companies where you can take larger and larger risks without adversely affecting people, actually adding anything of real value? Or is it all broken window fallacy?
This is not to say that e.g. Google is a useless company. Surely its products have provided a lot of benefit from people. But it is also clear that taking risks as Google can cause clear negative consequences for people. So the question is more for a hypothetical company that can take arbitrarily large risks.
Taking risks is working on new products to expand the company. Possibly refined versions of existing products, possibly explorations of related offerings. Could be green field recreation of what you have to see if you can make it better. Could be isolated improvements.
Such that, if you think it is only risky to possibly harm someone... I don't think we are talking about the same things.
For example, companies would choose cheaper employees for the same output, if possible, even if they are responsible for a lot of revenue.
It's weird to me that these companies, all of them, still very much flush with cash, have now engineered this an environment of FUD in everyone's mind. For creativity to thrive and ideas to launch during the next boom, you need an environment of safety. Tech had always been been synonymous with optimism.
It feels exactly the same at Google. It's certainly true that some job functions were hit harder than others, and some orgs were hit harder than others, but certainly no one was guaranteed to be safe merely from working on an "important" product.
If you are making money and not a cost center for your company, you are likely safe during times of economic turmoil. Being on profitable and important to core business teams is great during any time. I remember a team I was on which was responsible for a large amount of yearly revenue. You can imagine we never got questioned about team lunches or miscellaneous snack and drink reimbursements even though there was a company policy to instill frugality. When times are good, times are good. When times are tough, you want to be a money maker.