Unfortunately that isn’t true, by accident this has been tested by tech companies like Netflix they were paid in stocks when the company was worth nothing but as it grew they got paid more and more until it became apparent that they didn’t actually have to work anymore entire companies became filled with zombie employees people who don’t work like at all beyond what they are contractually obligated to do, it created huge discontent between the teirs of worker the one’s actually doing the work and the ones getting paid, you almost can’t pay people beyond a certain amount because they don’t work for you then they don’t need to they can live a perfectly fine life without working and nothing gets done so you just have to higher a new staff who once again you can’t in pay too much or they won’t need to work and you’ll just have more zombie employees.

It is actually very well established:

https://link.springer.com/article/10.1007/s11211-008-0063-2

https://www.sciencedirect.com/science/article/abs/pii/0030507368900093

https://en.wikipedia.org/wiki/Equity_theory

https://en.wikipedia.org/wiki/Motivation_crowding_theory

https://pmc.ncbi.nlm.nih.gov/articles/PMC3906839/

https://www.sciencedirect.com/science/article/abs/pii/S2214804322001422

https://www.bsfrey.ch/wp-content/uploads/2021/08/crowding-effects-on-intrinsic-motivation.pdf