Generally I believe Jason is correct. There are always a few guys who have planned to leave early (i.e. this year) and will most likely take a little extra $ with them on the way out. As far as attracting others, the offer is just simply too cheap.
From a company side, there's nothing to 'read' here. It's not costing them a thing, in fact they actually gain. Replacing a high payer with a new-hire low one. Basic biz 101.