To be fair, this is true in all fields.
If you chose to save a few bucks by hiring limited devs, that's a choice you made. In our orgs, the guy who moves CSS boxes for a living absolutely can write some SQL queries. Most places don't write database code, they write code that uses an ORM or other framework to interact with existing databases.
Do you think the ad sales guys can help with the Square integration?
Or let's say you've decided to bet your social graph / web / mobile app centric company on VR. How many of those existing devs are going to be useful in VR if you have a hiring freeze? Or when you realize it's a debacle and scale down VR, how many VR devs are going to be good iOS app update churners? Etc.
Wrong team sizes, wrong skillset matches, etc.
EMs become greedy and hoard whoever they have regardless of the quantity need or size fit.
Now they just use the old "never let a crisis go to waste" to let those who isn't good enough or overpaid go anyway
Simply having a hiring freeze means you hamstring high priority projects you'd have allocated resources for, while letting others that may lower priority ride due to inertia.