It can be bad at startups and certain companies, as they don't want to pay the higher salaries required and want people who will work like dogs.
The latter is funny, as when I started out (and maybe even now), I was always up for putting many hours into the product I was working, but only if it was worth doing and interesting to me. What I quickly learned was that these projects did not exist, especially at larger companies, and if they did, they were almost impossible to join. And even then, once on the project, political BS and favoritism could easily leave you working on an irrelevant/meaningless feature.
The reverse of "aging out" ("they're young, so they're stupid") is what I experienced when starting out.
While at eBay, the idiot managers did everything in their power to try to paint me as a stupid know-nothing and would constantly try to box me in. Whenever I did anything that showed ability, knowledge, etc, they'd freak out and try even harder to stomp me out. Working longer hours (or having to work longer hours) wasn't a display of anything other than me inconveniencing them and other employees, as now they have to stay late as well. Then right in line with such accusations, there'd be claims I'm not working enough, am a slacker, am always late (these Bay Area companies have a "show up and leave whenever you want" policy, but then magically everyone is always late), etc.
While at Google (2010), there was nothing but crap to work on, then later there'd be statements along the lines of, "you won't really be able to work on anything until you're a Senior Software Engineer or a Staff Software Engineer, as it's assumed anyone at the Software Engineer III level or below doesn't know what they are doing." There's always an excuse or some BS explanation as they tried to trap everyone into working long painful hours on nothing special, while dealing with endless BS.
Google was strange. There was overt discrimination based on age (older folks would complain about it, but then turn around and say the above about younger ones), gender, ethnicity, school attended, and anything else they could use, but it's magically never been mentioned publicly. They'd also talk down to QA Engineers and contractors like they were nothing.
Google was swarming with off-putting, arrogant, anal retentive pricks that would use everything as an excuse to say the most insulting garbage. It was a hellish environment in which many were on edge (anxiety) or miserable (depressed), while working long and hard on an irrelevant part of nothing special (something that's also magically never been mentioned publicly).