That might work for you - sure. But different people have different ambitions. Some might not care for comp and want to become a people manager. Decent managem

That might work for you - sure. But different people have different ambitions. Some might not care for comp and want to become a people manager. Decent management is aware of this "different ambition" dynamic and try to mitigate this. Also, this doesn't solve the problem of cost. Too many engineers without their comp based on promotions will still mean costly teams. That's why a balance of junior and senior is needed.