It's an unwell culture that doesn't encourage development and growth of the majority of the working population. The company does not view it's staff as a value add differentiator. That indeed is no different from any other capitalist venture. The difference now is that management are more open about that, and feel more confident to promote this type of culture, because it has a long queue of low cost people to do the work, much cheaper than enabling it's heritage workforce to outperform.
Sadly, @2zwe+1szlCawE is 100% right.