It does. That's why people who manage good PBNs don't link to their money site way too many times.
And it's the "signal to noise ratio" problem all over again. Remember that a large enough site will also pick up links naturally. Some of the natural links will be from automated sites like page monitors/seo tools/archivers etc.
Google can't differentiate a regularly linking PBN from those sites very well, so it probably puts all those kind of links into a single bucket.
And if your pbn grows too large, to the point of having millions of pages and several thousand sites and people start talking about on the internet, you risk getting a manual penalty.
Tl;Dr - pbn owners bet on the fact that the number of times they link to their money site doesn't trigger google, and they try to keep a low profile as much as possible.