An amusing thing comes to mind. The example in the article was about a clause that, if taken literally, would hurt the employee. In this case it seems to be the opposite (putting aside the concerns you bring up, which I share). Technically you could just give proper notice for a vacation after 2 weeks at the job and never return.
I don't know where to go with that, it's just funny.
Yeah, I mean, it's pretty clear that "unlimited PTO" is... not. It leaves judgement in the employers hands, rather than in a written agreement.
Seems to me it's a way of removing contractual obligations for PTO from the employment agreement and turning them into something that is fundamentally at the whim of the employer. While it's saying "you can take as much as you want", it also does not contractually enshrine anything, and there's nothing on the books to pay out at termination time, either.
I don't know where to go with that, it's just funny.