Well, that's an accurate name.

It's not. Nobody is "trapping" the worker. They can leave at any time and reimburse the employer a modest sum for the training.

I get it, they don't want to invest money and not get anything out of it but that's just the risk they take.

No, it's not. They have freedom of contract under Common Law to agree with the worker that the worker will repay some training costs if the worker exploits the employer for training and then leaves soon after.

How many people have moved or turned down job offers to take a position only to be laid off a year later? Nobody is proposing that the company that laid them off pay a penalty

LOL dude this happens ALL THE TIME and it's called a severance. Employers pay workers penalties all the time for cutting their contracts short.