I know TechLead is narcissistic/sarcastic/manipulative and that his words should always be taken with a few grains of salt, but how true is what he saying here about staying put in a non-senior role VS. moving to a senior role?

Everyone wants more money of course, but for those who highly value work-life balance, can the increase in responsibility and stress make the move not worth it? Are there qualified engineers who deliberately choose to stay in a non-senior role for their career on purpose?