I worked somewhere that "specialized" in hiring younger newish grads from the midwest. They'd bring them out to the Bay Area, pay them way under market. The people would put in a year to two years at $75k working 70 hour weeks before they realized it was an intolerable and nonsustainable situation. The younger people were more excited over the free lunch and pingpong tables to care about comp, let alone making rent.
Indeed unsustainable, but getting that experience and Bay Area connections might quite likely be a rational career choice for these grads
Doing this has facilitated a healthy work life balance and I believe leads to better productivity.
The best thing that ever happened to me was company implementing a lockdown policy so that email/chat/... are only allowed from company assets so I am totally cutoff from work via my phone except through that list and the best part is it by the companies own policy. I only get true emergency calls now.