I have encountered a few (too few) companies who recognize the equivalence of languages, and recognize that moving from, say, Python to Java isn't very difficult and isn't nearly the same gulf as trying to move from C to Java.

That said, the proliferation of language/framework-of-the-week projects is a serious drag on the industry. Its too easy right now to roll your own framework/JVM language/interpreter. The temptation is too great to manufacture a framework/JVM language/interpreter to solve your sort-of unique problem instead of adapting an existing one to your needs through modifications or extensions. In addition to clouding the buzzword pool, it hurts the position of existing languages because the energy that could have gone into improving language/framework X now goes into developing Y based on X instead.