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It is. It’s one reason why the job market for experienced developers may be hot while juior developers are unable to find work. A company has little incentive to train someone who will likely quit.

Not exactly, because most of the good growth opportunities are in the US, so you have a reason to stay in the same company if you can see that dangling promotion carrot. If you're an offshore employee (even if you work for the, e.g., Elbonian subsidiary of the US company), you know you don't really have much opportunity to grow and get the cool projects or become part of management. You see your US teammates all growing and up, and you know that by staying outside you won't. So after you get experience, you find a way to either be transferred to the US within the company (which is great since L1 visas are cooler) or show your nice shiny new resume to the other employers who may want to sponsor you, now that you have experience working for Path-E-Tech Corporation.

It depends, a lot of modern companies (perhaps even most) have lost the ability to see workers as people. Turns out when you treat people like objects, they won't like you and will leave the moment someone comes along that treats their "property" better. This is less of an issue for the rare companies that still see you as a person to be investing in.