Agree. I'm skeptical regarding unlimited PTO. I'm sure it can work well in some circumstances, but in general, I dunno ...
At my previous job, at beginning of '22, it changed from specific days off/holiday to "free-floating," it applied to a longtime colleague/supervisor and me. When we learned of the change, she warned, "That means if we get laid off, they don't have to pay for unused time." Sure as ****, both of us got downsized. Fortunately I had used as much as possible throughout the year so it was at least close to what I had earned/accumulated in previous years.
Even disregarding that aspect, it sounds good on paper, but it has to be realistic. If you're in a group/division and everyone has flex time-off, someone has to cover for the others ... (at least that was the case with my situation) - unless each person's workload/workflow is completely independent of the whole unit. So it can be a burden to everyone and make people hesitant to take vacation, if you have any semblance of empathy AND value the general quality of your group's production.
Seems like the concept doesn't benefit employees who give a s*** about their work ... on the upside, it probably isn't extended frequently to people who are likely to abuse it.