In the science of management there is the "two-factor" theory which holds that the factors which promote job satisfaction and job dissatisfaction are essentially separate, so, that, e.g., increasing job satisfaction does not necessary decrease people's job dissatisfaction. (This jives with my experiences: a raise doesn't make me feel any better about a toxic coworker).

Casting what you're saying in the same terms, "no stack ranking" is essential to head off worker dissatisfaction but it doesn't necessarily make Adobe a good place to work.