I think that's the OP's point. They were not hired in good faith and I agree. This mass hiring/firing cycle is playing games with people's lives and, as always, the people at the top are unaffected by it, and in fact maybe rewarded for it. This isn't a game, this is people's lives. It's a little less horrible if it's a remote position but people upend their lives and move for jobs all the time.
I don't think there's any particular malice to the ups and downs - it's just the nature of work these days. Employers and employees have pretty much laid bare their view that the other is simply a cog in their machine. That being true, folks need to understand, plan for, and not be particularly surprised when these ups and downs happen. That means having a runway for lean times, and knowing your worth, how to communicate it, and being flexible when things go pear-shaped. People do move for jobs all the time, yes, but I hope that part of the planning for that involves asking the question - "what happens if this job evaporates?"
I think that's the OP's point. They were not hired in good faith and I agree. This mass hiring/firing cycle is playing games with people's lives and, as always, the people at the top are unaffected by it, and in fact maybe rewarded for it. This isn't a game, this is people's lives. It's a little less horrible if it's a remote position but people upend their lives and move for jobs all the time.