Representative of low performers, maybe, but even then I’m not convinced. The idea that a high performer only gives up $5k total comp going to Amazon or Microsoft in Seattle is... well, feel free to believe that. You’re making a ton of money any which way relative to the general population.
But most people I know in the Bay Area don’t report that they’re leaving net income on the table staying here. Maybe all those software engineers are just bad at accounting, seems to be everyone’s analysis.