i agree with all of what you said, but i think the main change is just that these companies aren't growing the same way they were pre-pandemic. everything feels resource constrained in a way it didn't in the mid-2010s and this makes everything inherently political and negative

edit: to give an example, you probably don't think at all about an exec's value when you see him once a quarter in an all-hands explaining the great growth and complimenting teams, your paycheck is high and growing, and your team has happy hours, lavish team all hands, and tons of autonomy. when the same exec is announcing layoffs, no growth, and reduced benefits, you start to look at the deal a little differently