Because of the way pmcd starts up, the macOS launchctl system is unable to detect that it has crashed and auto-restarts.
Because of the way pmcd forks from its start script, If we try to configure launchctl to monitor the process it had launched, it thinks it has crashed and tries to restart it, even though it has successfully started (but in a separate PID). This causes constant pmcd restarts.
Instead, we are currently only able to launch pmcd on startup and 'hope for the best' that it stays up.