Does Cisco have a responsability to the American public to hire American first and not when it's merely convenient, by whatever metric they decide, for them to do so?
The plain-as-day answer is, the business model of externalizing the costs of nationalism (protection, discounted infrastructure) and technological progress (disruption) only works if the net-benefit of that progress results in a measurable improvement in the standard of living for the majority of society whom have paid the externalization costs.
Otherwise, innovation quite clearly works as an asset-stripping mechanism; a mechanism of enslavement and subjugation.
The correct question to ask: Is Cisco's action, and what the majority of silicon valley is doing, foundationally counterproductive?
A Teacher does not teach the material, they teach the student; their job is to learn how students learn, format the material for them, and provide them with guidance, ultimately teaching them to teach themselves. They must change themselves to change the world around them.
Time and time again, I see clearly highly intelligent people like you, and they make the mistake of agrating people into numbers because they they have not learned stewardship over those less gifted, logic and reason has clouded their ability to see social systems of sacrifice.
And because of that, their designs fail. Over and Over. And they don't know why, or they become superstitious about it.
Hiring H1B's in large numbers, instead of having a scalable internal training program, is a fundamental sign of a failed system at play.