Increasing H1B caps does help immigrant founders who aren't already millionaires. I've been on an H1B visa and I've started my own startup. You can be on an H1B for your own company so long as it's clear there is a board that can fire you.

There's two ways to go about making it easier for immigrant founders to work legally in America: create a new startup visa class that is likely ridiculously nebulous, or increase the H1B cap. I think the second is much more likely to pass.