I'm not sure FAANG does look good on a CV any more. The skill set to be effective in those environments is quite specialised and crucially it's very different to what you need in a lot of other software development organisations. There appeared to be a happy cycle for a while where very well paid devs working in one of the few FAANG or FAANG-adjacent companies could jump to one of the others because they were "in the club" and had experience of working at a truly global scale that most software never needs. Those days seem to be over with the mass layoffs and hiring limits. And if you're not working at that scale - and outside that small world almost nobody actually is - those skills aren't always very transferrable and other types of experience often have more value.
I'm not sure FAANG does look good on a CV any more. The skill set to be effective in those environments is quite specialised and crucially it's very different to what you need in a lot of other software development organisations. There appeared to be a happy cycle for a while where very well paid devs working in one of the few FAANG or FAANG-adjacent companies could jump to one of the others because they were "in the club" and had experience of working at a truly global scale that most software never needs. Those days seem to be over with the mass layoffs and hiring limits. And if you're not working at that scale - and outside that small world almost nobody actually is - those skills aren't always very transferrable and other types of experience often have more value.