This is ok in an industry where there are far more jobs available than workers. I'd say it's fine in any software hotbed like NYC or SF where there's really no excuse to be unemployed as a software developer unless you are so willingly or incompetent.

Privilege is working both ways here: the developer has their pick of the crop and so does a highly successful and desirable employer.

Edit: I want to point out that I think it's only acceptable in a region where the developers have the market advantage.