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I'm not sure why you don't consider stock in a public company that you can immediately sell every monthly vesting period liquid.

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Because you have to work for several years (4 at Google) before you can liquidate them completely (don't forget about taxes) and you have to rely on non-deterministic factors to keep that train going (stock refreshes, raises, promo bonuses, etc.)

Salary is much more straightforward, and more predictable.

The large companies keep that gravy train rolling. If they don't do refreshes, people walk after their last vesting event.

The hot new thing is to do continuous vesting with annual refreshes. That way you're constantly accruing and the only time you can't exit is during company blackouts.

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