Too an extent, but don't expect undying loyalty when first sign of trouble you lay off work force
And in corporate world, if CEO fucks up and company gets fucked, 1000's lose their job with minimal compensation and the departed CEO leaves with 7 figure severance package
It's nuanced answer, but there advantages to being in Public sector, but I don't agree that we're not productive, etc nor are we not motivated.
I've worked in private sector as well, my answer is same, if I did get good work, I got rewarded with more work. My wife works in corporate world, she has some perks I don't, I have perks she doesn't