You are absolutely right. Having said that, in many places, companies got used to have plenty of candidates. While the unemployment rates were high, people was afraid of getting fired and put up with a lot of things. Managers learned that they could get away with many things. And worse, many HR departments protected their “star performers” (they were bad workers, since abusers are never good workers, but companies deluded themselves).
This culture continues. To the point that I have seen offers that ask for people who are able to put up with “difficult” managers or “attitude” and other euphemisms.
The point is, now that there is low unemployment and difficulties to fill certain qualified jobs, those companies are having high turnout, higher cost due that and more and more difficulties to fill positions. In the long term, that would lead to them needing to pay more that the competition and lower profits or even loses for that reason.
Change for the better is always slower than change for the worse. But it is already happening. Our part is to walk away from the companies with toxic culture. Well, maybe not rage quitting, just looking while working. And leaving as soon as possible.