If the company still paid good money, then it just means that they were a really profitable enterprise.
It's like if a company like Google which currently pays top dollar, decides to pay average market salary, but loads the compensation offer with perks and time off, then I bet people would be saying that Google is a profitable company because it gives employees all these perks, whereas Google gives all these benefits because it's a hugely profitable company.
Some people would rather get paid more (especially if they are young) then work comfortably, maybe it's too hard for you to believe but America is full of people like that.