My company just got rid of unlimited PTO for all the reasons people say they hate it - they didn't think people were taking enough PTO for their health, it was used unfairly, etc... Functionally now though, I have to file paperwork with 3 different groups to have someone approve even a single day off so they can make sure I'm not going over the number of days off that I have in accordance with my level and seniority. Thankfully my manager has essentially told us they don't care and we're still on unlimited because they don't want to do the paperwork either.
It's not to say that "unlimited" can't be toxic, but it's easy to forget how onerous other systems can be, which can lead to you taking less time off in the same way. One of my friends is the junior on their team on a fixed PTO system and is being forced to take nearly random days off now in order to have any at all because they didn't get their holiday plans in as early as their more senior team members, so now they're stuck with the dregs. Toxic cultures are gonna be toxic. The framing just changes the mechanism.