If a company offers a very low lower bound like $10k, job seekers won’t apply there and will go to competitors with a more reasonable lower bound.

Similarly, when a highly qualified applicant gets an offer way below the upper bound they’ll be upset and ask “why don’t I get paid near the top of your band?”

Unless all employers work together to make the bands useless, it’ll at least give some visibility into what employers are worth targeting as an applicant.

My employer has Colorado jobs and gives some wide ranges (ex: 130-300k) and more narrow ranges (ex: 200-240k). The wide ones probably cover 3-4 levels and the narrow ones are for a specific level. They’re all missing RSUs or bonuses, but they should give you a rough idea if it’s worth applying or starting a discussion with a recruiter/hiring manager.