It does suck - luckily for the L4s and L5s it's not that bad - 50% RSUs is really at L6 and/or manager roles. Levels.fyi accurately shows fairly up-to-date compensation.

It "sucks" for the VPs, which I suspect - like another commenter here - is why they raised the max base pay up significantly last year. They raised that cap in Feb 2022 just after the first post-Covid slump (which followed earnings the VPs would have known about).