Yes in my (somewhat tinfoil) opinion the point is to have an emotional impact on the workforce overall (or at least, one of the points is). Tech workers had a really good 20 years in the US, and kind of forgot that they were ultimately still wage workers. I think the culture circa 2018 took for granted a basic level of respect and cooperation from upper executives, and were beginning to exercise their power to achieve political goals, which was annoying to the tech ownership class. I think one of the major strategic turns of last 4ish years is the usage of precarity and high turnover to corrode worker solidarity in fields which used to be ironclad and respectable white-collar work. By simultaneously narrowing the hiring window ('junior devs are replaceable with AI') and also expanding the opportunities to be culled ('we are axing this division to cover our moonshot outlays') capital cultivates a desperate and compliant workforce. Bottom-up culture is woke, in the 2020's the folks in power want top-down directives that are followed unquestioningly; similar approach to how the executive branch was brought to heel by DOGE.
Or the current crop of companies has just ossified and are waiting for a disrupter to kill them. You can’t get that big and be around for that long without having the original culture die, it seems. This isn’t the first wave of companies this sort of thing has happened to, is it?