It's not even an idealogical, but plain economical observation: take two companies. One is low-stress, slow, steady money. The other is a crazy fast, big money. Angels or VCs give you tons of cash, you can afford to pay top employees almost any amount of money, with any kind of crazy benefits you can think of (including those freshly baked blueberry muffins in the lobby, which nobody ever eats) but if you don't get that product out before your competitor, you lose it all.
Which company will be faster shedding an unproductive employee?
I can't count the amount of VC funded startups I've known to fire entire teams just because the product vision changed a bit. The main client is going to be an iPhone app instead of a web widget? Immediately fire with no notice or compensation all 5 "star" web developers who left permanent positions at Google, Amazon, Facebook etc to come and help your realize your dream.
I'm not even talking about non-productivity, incompetence, or engineering mistakes that would get you fired from a trail-blazing startup in about 5 minutes.
To expect "loyalty" under these kind of terms is sheer delusion. The only "loyal" employee you're going to get is someone entirely unfamiliar with the above realities - aka a clueless newbie on his first startup job.
There's not much point explaining how the notion of "job hopping" being an employee's "fault" is entirely baseless in this context. This is an important discussion, but so much beyond the grasp of this curious article, that purports to apply to the reality of startups while ignoring the elephant in that particular room.