"Meritocracy" in the workplace is a myth perpetuated by those in power to justify their position. The Coinbase CEO got raked over the coals for his handling, and rightly so.
That was not my impression at all of the reception. An extremely small segment of the workforce left, despite generous exit packages. The impression I got from my coworkers and peers was mostly a sigh of relief and wishing their own companies would follow suit. The opinions of a vocal minority on Twitter are often not the opinions of the workforce.