Ask HN Spreadsheet Contractors: How do you feel about being undercut?

I've been looking through the contractors spreadsheet and I notice that there are many people with similar skills with large discrepancies in rates. How do those on the West Coast, for example, feel about seeing others from the Midwest, South or another country charging a fraction of what you do?<p>I know it's known that developers from the West Coast are generally more expensive than other places in the country (and, of course, throughout the world) but, it seems more stark when scrolling through the spreadsheet.