Although I've never worked at a FAANG, but everything except the internal competition to be seen as "the guy" is actually true for any big, multinational company. The alignment, the big leverage of a mistake, the huge code bases that only "the guy who left half a year ago" knows about and the cultural differences (apart from the challenges to work with both Chinese, European and US timezones at once) is all the same.

That said, it gives lots of experience. As does working in startups as well as mature SMEs. Having done all three, I can't say either is better. They're different, but some are better at a certain point of life and not as good in other points of life.