I recall hearing another firm that did sabbaticals usually meant the employee was just getting ready to leave. People would spend a few months doing some travelling, relaxing, leetcode and interviewing - with safe fall back in case they didn't get anything.
Our firm has a stipulation in the sabbatical wherein one would forfeit their severance / payout if they leave within one year of returning from sabbatical.
You're probably right in that most of those employees are itching to leave already, but financially it would make more sense just quit than take a 2 month sabbatical and then lose a larger payout.