I think that's probably a given for most of us. I work in the financial sector and it's the same here. The longer you stay put, the more is expected of you until finally you either move or quit. Work-life balance is a buzzword most places, especially the ones that say it's "your responsibility" (as if we can somehow choose the projects assigned to us, set the deadlines, and design the workload to our choosing).
And regarding the idea that dogs were a way to mask the lack of work-life balance, it makes perfect sense. The biggest thing that throws work and life out of balance is the conflict between family and work. If you can replace family with a dog, that's a huge win for them.