Well it may be, if the work expectation at meta is say 40% higher than the other company (and likelihood of being laid off is 40% higher too).

There might be a difference between having an offer right now versus being able to have an offer later (or having had an offer earlier). Especially when everything about the processes involved is trying to shorten the period the offer is actually open.

All offers get weighed against WLB, perceived bureaucracy, perceived reputation of the company, perceived alignment with role and level, perceived value that the company derives from the position, and the expected competition for the role. The combination of all of these could lead someone to reject or negotiate the highest dollar value offer.

I guess market rate isn't a thing? Time is a limiting factor with regard to getting offers. What this is saying is don't waste time on making Meta your first offer.

This is why the author says it is critical to have other offers.

I think they mean vs what current employee are getting

from an eng pov, of course it is.

from any rational business pov, of course it's not.