The top 10% at FAANGs are game changers, and having them in any company would probably accelerate them. I've worked with some really extra ordinary, high-output engineers that were brilliant.
The rest of the 89% are very, very ordinary. I'm at a FAANG and the vast majority are exactly like every other SWE I've worked with in my career. There's nothing special about them. I'm currently working with some of the laziest, dumbest SWEs in my career despite their employment at a FAANG.
So to those that think FAANG is some badge of honor, don't believe the hype, I don't think FAANG employment is a meaningful signal at all.