UK tech staff should not be denied their stake in success

Question that must be asked: isn't giving equity harmful long-term for tech performance? Almost everyone who is capable of being there, is already there because there are few other fields that pay so well, especially fields open for everyone to join. So it's not like promise of high equity comp will attract more or better people. But once people cash out, don't they just retire, thus excluding themselves from labour pool? Why would anyone want to work on society-crushing, toxic, hated fields in an insane rat race? Certainly it's good for them, but is it good for the industry?