I agree that no severance sucks. Although keep in mind that in theory, higher salaries should equal hire savings. The average developer in SF makes more than the average developer in Berlin (how much more... maybe 2X)? If you could make 100% more & forego a severance package, would you?
It's not a real world choice, I'm just trying to offer context that one way to look at higher salaries is that you are getting cash more cash upfront instead in lieu of having a stronger social safety net. And people who work crap jobs just don't have a safety net, which is another conversation.