Reneging FT Offer

Title says it all. How bad is it to accept a FT offer then renege? I hear some people on this forum adamantly recommending you sign an offer and lock it in before even shopping elsewhere, and others who treat reneging as a cardinal sin. What’s the rational answer here?

If you are interviewing while having signed an offer elsewhere, how likely are you to lose it all if both sides find out? Honestly feels like cheating on your girlfriend to me, or is it more like flirting?

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