Absolutely 100% spot on. We don't even interview Googlers anymore for this very reason. They literally think a "pay cut" means 300k+.
If I make 350k+, and a startup is telling me I should take their 150k base + worthless options deal, or else I've "pigeonholed myself in the current role" (actual quote), I think they're just being stupid and unrealistic.
"Slave mentality" is a term I often use as well.
Are you jealous? I know I wouldn't mind earning 350k. It isn't as if I'd move anywhere for Google to start earning that, at least not right now, but to be honest, if you are going to earn 300k less that WOULD be a pretty big pay cut.