One thing I was expecting to see was that promoting yourself by moving, i.e., selling yourself to other companies is not only the best method for price discovery for yourself, but also that it will not come with excess responsibilities, i.e., promotions without/inadequate pay and mostly more responsibilities/work.

It is an issue and something I have been thinking about, because the corporate machine thinks it is saving itself money by screwing its employees, but there are many other way in which in reality is just undermines value and cuts growth and future earnings potential when your "human resources" decide to take their resources and institutional knowledge to a different company after years of sub optimal deployment due to the corporate culture.

For some corporations the burn and churn model may work; some big finance, insurance, tech, and consulting firms come to mind, but I don't think it can work without having generated a certain (al)lure.