You will be stuck with an old slow PC trying to fix some issue until midnight, and that just takes a heavy toll on people.
As things can't work well, there is a lot of responsibility deflection going on, it would be naive to think otherwise.
Also, a lot of these posts in HN assume that the only way to live is to work as an employee for someone else, under similar conditions.
It's important to realize that there are other professional options available, which many people won't even consider.
For your option list, I've seen a lot of 1. As for 2, there are lot more bad companies than good ones, and you can't tell from the interview process and can't also change each 2 months.
As for 3, half the workforce would switch jobs then. The problem is not the people, it's the system.
I would add 4, do contract work and stay while the balance of the good things / bad things about the job make it worth it, then do something else after a year or two when it doesn't.
This relates to 2, sometimes a company is the right company in the beginning, but it's no longer the case later on. For example, I bet you won't work there forever.