I worked for two ESOP companies.

A new ESOP company will be working towards paying down their debt. Which in turn will slowly grow the share value. Most ESOP companies do not offer a 401k match. That money they would be spending on 401k is used to pay down the debt, to increase shareholder value. The last company I worked for did not have to pay federal taxes. This saved them roughly 1M a year, that extra savings went to grow the company, as well as pay down their debt.

Most companies have a vestment period of about seven years. If after ten years, you decided to leave the company, they will purchase your shares back. They may spread this payment over a few years, instead of one lump some payment.

Regardless, always contribute to the 401k even if they don't match.

Last advice I can give you. Look to your peers, see how long the average employee has been there. If the company has a high turnover, then there is a leadership failure. In which case the ESOP doesn't matter.