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They should be.

They'd have no issue cutting you loose at the drop of a hat if layoffs were happening, so why should they expect any sort of company loyalty from you?

35 years ago, an older coworker at UNIVAC told me that the company gave us its best job offer every other Friday in the form of a pay stub, and other companies were always welcome to beat it. It turned out to be good advice.

At my next job, another older and even grumpier coworker told me "face it, we're all whores."

And compensate accordingly.

Then let them fear. Loyalty between employer and employee (in either direction) died out many, many years ago.