I've never seen people leaving great jobs for a 10% raise. It's always something else: a much bigger benefit, or a significant downside of the current job, which are not widely publicized. Instead, I've seen people going to a lower-paying position for a more interesting job, a chance to learn new hot thing hands-on, a different set of responsibilities, etc.
I worked with a guy who left for more money, found out the grass wasn’t greener, and came crawling back. Then did it again. For some reason they hired him back a second time. When he quit the 3rd time I think that was the final bridge burned. I asked him about it and he said money was his singular metric for choosing a job, he was always looking, and would never stop.
Yeah, I left a job where I loved the team and didn't mind the leadership too much for a 45% raise. Got lucky and the job I landed in was an even better fit for me.
I remember a guy at a previous job doing something similar - left for a React job (despite being a PHP developer), then came back like 6 months later because he couldn't get his head around React, then left again like 6 months later. Pretty sure it was about money because the PHP job was pretty relaxed and had some good perks.
Yeah I was offered a job with 12% better pay recently - from a friend too so I knew the job couldn't be too bad. But I feel like I'm onto a good thing where I am and the perks are okay (plus I'd probably be burning some bridges just by leaving).