Correct. Cisco stock growth is not only limited by the hw business since 2000, but Huawei ate their lunch on growth, which is the kiss of death for a tech company. See Nortel.
(Zoom was started with 40 Webex (Cisco) engineers. lol.)
Also Cisco salaries are really low for SV, like 30% less - totally non-FAANG. I've pointed that out to Cisco recruiters, and they almost cried on the phone begging me to go to the next interview step anyway.