The worst will know they will have trouble getting a job elsewhere. The best might assume they are known to be the best, so they are safe. I would think it would be the middle people who would jump ship.
Nah, layoffs are too random. Being the best on your team doesn’t matter if the division is cut, or if the VP is making the call, or if your manager is disfavored, etc.
Most of the (risk averse) great folks I know have purposely found safe harbor over the past ~2 years.