This is key. I suspect one could start a really effective startup (while paying significantly below market for good talent) with a policy like "work six hours from 10-4 and then leave to do something that recharges you."
In practice that's what many engineers (and some non-engineers) would be doing anyway whether or not they're physically in the office.
Anyone with talent knows they can go get full pay in exchange for BSing for another couple hours a day and taking a long lunch. Easier to save that money and plan for early retirement.
We need to see a gradual reduction in expected working hours in the US. 30 is a good target.
Different people have different priorities; someone whose top priority is early retirement would take the extra BS hours, but someone who wants to have more free time now might take the company that offers shorter hours.
There's an advantage to a company offering shorter hours as long as there are fewer such jobs than there are people who want them.