Loyalty is not a black and white thing.
I can list close to 15 years of small experiences that make me feel like my current employer truly cares. I’ve had very few negative experiences, and when I have had them I’ve said “hey that’s not cool”, and the company has fixed it as much as it could be fixed. The fact that I may be fired at some point does not invalidate that.
To me, loyalty between a company and an individual is not about the contract of work, it is about the environment that exists while you are working. Both I and the company have the option at any time to terminate the employment, that’s just part of the deal. That does not mean long term loyalty and expectations can’t exist.