It doesn’t make sense to me either, but it seems to be the way of the corporate world.
Companies put on a show of wanting loyalty, but they never really mean it. It is just a way to make employees feel better about staying in jobs that will never provide raises or promotions.
There can be good personal reasons to stay in such jobs. Loyalty to the employer is not one of them.
In a way if you don’t job hop without promotion it shows you lack ambition and initiative.
Many new hires/new “workers” are too lazy to actually work on their career. They want it handed to them.