There are a tremendous number of low achievers in every industry and if you keep them around they are toxic, every bit if not more toxic than Amazon's culture in 2019.
That said, I would have liked to have seen most of the time dedicated to this task allocated to developing the careers of my direct reports because I think that is of much higher value to any organization.
Not hiring idiots in the first place is IMO the proper solution to this problem, but that now seems intractable. It seems there's a real temptation to scrape the bottom of the barrel to fill positions these days.