That's a lot of spin on "to save money".
They mention San Francisco rents, but they fail to mention all the advantages of living in San Francisco. Awesome for the folks in San Fran to have their lifestyle's subsidized.
AND then they spread some FUD with "Remote companies using a standard pay structure are reportedly running into problems with their compensation plans" - nice and vague and ominous. Doesn't even mention what issues they're running into, just "issues".
AND then they end with the weak they " hope location band salaray gaps will continue to narrow", as if they genuinely wish they could pay more, but their hands are tied.
I think gitlab is a great project, but that is some grade A bullshit.