I’ve never been comfortable with PTO; it’s never made sense to me that your sick time should eat into your vacation time. I’m glad I work for a company that not only keeps them separate, but also makes every employee eligible for an incredible amount of sick leave, starting the first day on the job. (As in, you don’t accrue sick time, instead every employee has a certain (large… as in months) per rolling 12 months they are allowed to be sick (at full pay) before they are shifted to long-term disability. It’s rare, absent permanent disability or terminal illness, to exhaust it all.
I will note it’s not just low-rent outfits like Wal-Mart that use PTO; companies of all sizes (including high-paying tech companies) use it.