The bigger issue to me is that there's no diversification of risk. If your company goes under, you lose 100% of your income all at once. From that perspective, it'd be a lot more rational to work say ten jobs at a single time.

You're never at serious risk of losing more than 30% of your paycheck in any short period. You could even get smart and balance your portfolio of jobs between pro and counter-cyclical industries. Plus, it's a good way to let people gracefully transition between careers. Want to move into machine learning? Take a low-paying junior ML internship for one of your 1/10 jobs to build experience.

It'd also be good from a societal perspective, since jobs at small, fast-growing, but high-risk companies would become comparatively more attractive. It'd be harder to sustain toxic workplace environments, since any given employee would have plenty of other options. Managers would be less hesitant to shutdown money losing divisions or fire underperfomers, since you're not leaving the employee destitute.