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The term was originally about stocks of similar profile, not which employers one should aspire to have. Jim Cramer coined it, and modified it a couple times (eventually adding Microsoft).

It hasn’t been osg for several years now. It was WDG, then something else, then just part of Azure. When I left, windows got split in two and the shell was under the UI team.

I have friends who’ve been working at microsoft for years and seem to like it, and others who worked there and described it as “soul destroying”. I guess in really big companies you can have varied experiences depending on specific team/location/boss.