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If you are curious about the market and have the time to do resumes and interviews, why not? Sometimes the better offer lands on you when you are not looking. I think hiring managers and above can tell whether one is job hopping vs truly needing the job for a living. I once interviewed two final candidates - one felt bored at the current job, the other one needed a job after a layoff. I voted for the latter as we wanted to place someone who is serious enough to stay in the role for a few years.
Pro
It’s always good to stay prepped for interviews. I see nothing wrong. In the process, they could find something that is a great fit and actually take the offer.
I think it’s just part of the game, unfortunately. A lot of times employees can use an offer as leverage to get more money at their current company. This happens all the time at my company. It’s unfortunate but it’s just part of it