Honestly, having had both paid out PTO and unlimited, I’ll take unlimited. It sounds like you’re getting fucked by not getting your PTO paid out, but you also aren’t incentivized to hold onto your PTO on the off chance you get paid out if you leave. I’ve found my mental health to be better now that I’m actively taking my leave instead of rationing it since I can just take it without wondering if I’m going to have to take an unpaid day late in the year.