I think you’re very wrong.
Companies like Google have trained an entire generation to seek greater meaning in their work. Even if Google’s promises were hollow, millennials don’t have the cultural institutions our parents did. Thus we seek self-fulfillment in the ways we know how: at work.
I work with a lot of C-suites on “the culture issue”. They see statistics like “40% of people between age 12 and 18 identify as LGBTQ” and they start to panic because their company culture isn’t so friendly to that. Things that were taboo only a decade ago are now commonplace: every kid today knows at least one trans kid, and a over half of teens identify as “somewhere in between gay and straight”.
The institutions that used to prop up culture in this country (marriage, church, family, etc) are no longer a reality for most people. Corporations have lobbied successfully for more power, so the employees of these companies expect to be able to wield that power from within to make the change they want to see.
Because the culture at large is so hostile to those ideas, the culture at companies is only going to become more important as time goes on. Companies that ignore it are going to have a difficult time attracting the top talent that can afford to be choosy. Companies that provide a safe, nurturing refuge will find themselves drowning in qualified applicants.