Earlier quoted context omitted.
I was at a talk last week given by a startup founder and he said something similar that went along these lines: The bigger the company, the smaller your role's coverage. You get well-compensated and aren't worked too hard, but your job might effectively be "you're responsible for these two screens of this one component of this particular application". The conflict is that the bigger the company, the higher the bar fo…
One of my colleagues complained a while ago to management that "you hire brain surgeons and put them to work to peel potatoes". Quite a poetic way to express the same idea, I'd say :D
I work in one of the top tech companies that is not FAANG, and the sentiment is the same. They hire only PhDs for a big chunk of the company and they pay relatively well - most of the people who complain about this cannot get a better paying job.
A friend of mine even said to his boss 6 months after he was hired "Why did you hire a PhD like me for this job? This work is not even close to requiring a PhD".
While I feel for him, my counter is "OK. Where would you rather work where you will do work worthy of a PhD?" They'll usually name the same few places, and not realize that those places are already "full". And they all pay less.
The reality is that there are many more qualified people than positions for the interesting work. If my company decided that yes, you're right, we don't need to hire PhDs for the job and we'll just hire MS folks, then the very people complaining would be in another company, getting paid less, and complaining about the same thing.