I think it’s very role dependent. I’ve worked for all sizes of companies and there are shit jobs and shit managers in all of them just as much as good ones.
It’s a little facile to say all those people are disposable cogs, promotions are achievable, new business units, stock options, health insurance etc etc
Landing a job in a top company still does your CV some good.
If you want security and a good pension, then the public sector is probably a better fit.