You're so close to getting it... who do you suppose will be pursued for the money? If you have more of the 'who', that will encourage faster/greater enshitification as a natural part of the pursuit.
Yes, it's a thing that happens. It's quite common for an over-qualified person to be bored, hard to work with, and just picking up a paycheck while they're looking for different work. Hiring an employee is expensive. If you can't keep them for a while and/or they're not a good fit for the team then you can be better off just leaving the position vacant.
Worth noting and not crazy important for an entry level position. Double true if there are limited options available. Take the job, learn some skills (including how to work in a bad environment) and then look for and move on to better opportunities. Caveat: Just don't take one of these roles with a place where it's going to stereotype you and/or give you no transferable skills/knowledge.
The rich didn't buy all the media for no reason. This is intentional.