[pabe]

I think you're spot on. They're hiring as much as possible to make numbers look better ("we're growing so fast!") and later on blame AI for layoffs ("we're way more efficient with AI now!"). That's the play in almost all VC funded companies. If you want to stay there, try to shift to a position that decides about the product and has a lot domain specific knowledge. Start looking for an enterprise job if stability is important for you.