I have no doubt every organization is different, and to some degree different teams in organizations are different, but I've been fortunate enough to work at several employers where "staff" or "principal" truly mean things, and still have friends at all the FAANGs and many of the other companies of similar tier. They all report what I've said - the idea of just doing good work and getting promoted is basically dead. Perhaps if you work literally on a frontier AI product it's different, but what I said is the norm.