Should Job hoppers be ignored?

In the not so distant past loyalty was a valued asset and the employee serving a long tenure in an organization was well rewarded with promotions and increments. Today with the  advent of competitive cut throat environment. Loyalty take a back seat to competency and performance. Recently I sat in to counsel an employee who had been a non performer in the same company for 11 years. What do you do with such people? and should these people be preferred only by the merit of them hanging on to the same job due to  his lack of competence or initiative? should this mans credentials take precedence over another performer who may have jumped jobs in the interest of his personal growth but in process also grown an organization that he worked in?
Should a recruiter blindly reject the job hopper?
Some reasons why I feel we should consider them...
Adaptability:
Job hoppers can gain more experience and skills from each new environment they work in, so more roles, environments and sectors means more experience. As well as this, job hoppers may have honed their relationship building skills, being able to quickly integrate into teams and build rapport. And using their skills in different jobs and environments will have helped to keep their skills sharp.
Signs of ambition and high achievement:
In the throes of competition a change in job could be a sign of takeing innitiative and being ambitious for progress.
Risk Taking Ability:
The old is known and the new can be a risk. The ability to leap into the unknown and make a chance of it can speak for itself. Job hopping can also show that a candidate is courageous and not afraid to take a risk. Many employees stay in roles they are not happy with because it’s the path of least resistance and they are not comfortable with the risks associated with moving. Job hoppers are often bold enough to take the risk of making the move. It means they may be more flexible and may be prepared to take on new roles in your company.
There is an obvious criticism of job hoppers in that they may be unsettled and aimless, but, many people go through a phase in their career when they are simply searching for the right role and this is commonly seen at the start of one’s career; so, don’t frown too hard on graduates who change roles very frequently in the first five years as they may just be looking for the right fit – and who knows your company could be it. This can also happen to candidates who are in career transition. Just make sure you interview them closely to ensure your role is right for them.
Also, don’t over look the fact that job hopping could be simply as a result of the difficult climate – and the job hopping may have largely been out of their control, e.g. relocation, redundancy, mergers and acquisitions, reduction in permanent contracts, etc. In these circumstances, job hopping does not necessarily suggest a lack of commitment or focus, which means they can still be an asset to your business.
looking forward to your views on this ...............