I don't disagree with what OP was saying. I have friends who experienced this. But my experience is no way closer to this. Think of this. The company have million+ people working. It got many companies in it (Acquisitions and independent business units). At least 30% are technical side. Out of it around 50% face this issue who are on development side. Which is still significant. Especially on call. other stuff like URA still applies for everyone. Work life balance is upto manager, team, business unit etc. Can't really generalize. You get to work with great companies and build great experience for your career if you got lucky. If someone doing their job,it's really hard to go things wrong way. Managers are always under hiring pressure and they tend to hire wrong folks most times. The interview process have lot of bias baked in. We miss lot of good folks and hire wrong folks too.
But I agree this toxic culture need to change.