I don't think you can paint with such broad strokes. While it is important to have a sense of the founder's vision for the business (run for life, IPO, sell eventually, etc.), I can't say I blame them for cashing out if the situation makes business sense and aligns with their goals. It is THEIR business after all.
But I think that just means there is more responsibility on the part of the founder to be transparent and forthright with his employees, particularly those who have equity. It is one thing to sell in a backroom. It is another to sell with the full knowledge and support of the company with the goal of getting as fair an outcome for all parties (including the employees that helped get them there). Believe it or not, there have been plenty of instances where the latter has happened. It isn't always like the founder makes bank and no employees get anything.
But I think that just means there is more responsibility on the part of the founder to be transparent and forthright with his employees, particularly those who have equity. It is one thing to sell in a backroom. It is another to sell with the full knowledge and support of the company with the goal of getting as fair an outcome for all parties (including the employees that helped get them there). Believe it or not, there have been plenty of instances where the latter has happened. It isn't always like the founder makes bank and no employees get anything.