IMO as someone who has done hiring at a FAANG and many other companies, short answer is no, if anything it's the opposite. As long as you hit a sweet spot of staying at each place for at least 9-12 months with no gaps in between jobs--in reality, this means "it doesn't look like you were fired"--switching jobs not only makes you look more motivated, it also gives you a wider breadth of experience to draw from. A senior engineer at Amazon for 8 years knows how to do things the Amazon Way. A senior engineer who was at Google, Meta, Netflix and Amazon for 2 years each knows how to do things four ways, and as long as they can intelligently compare and contrast the way those four companies operate and the pros and cons of each, would be an extremely valuable asset.

The only time this would maybe not apply is director/VP level roles, though if you're switching at that level you presumably have a pre-existing relationship with someone near whatever role you're trying to move into.