After that I think you have a point. I work at a FAANG as a SWE (15 YOE) and want to move into management, but it requires a SWE promotion first to staff engineer I don't think I'm capable of getting at this company. (I've been a staff engineer at a previous firm though).
I could switch to a lower tier company and definitely find a way to move into management and develop my career on that ladder but I would likely have to take a big pay cut. I think the trouble is people with 10+ years of experience are like me and have families and a mortgage. It's just not an option to make less for me even if the future was bright.
EDIT: As someone pointed out, 10 years entirely in FAANG is probably not as good as a varied career that includes FAANG.