That still doesn't consider pay differences between two completely different jobs.
The remaining concern is distorted markets like foreign language teachers (brought up elsewhere in the thread), where it may be politically infeasible to raise compensation to match the value workers create.
The purpose is not to give visas to the wealthiest bidder in the wealthiest locations and industries.
Prevailing wage requirement already solves the problem of wage velocity, so this is just creating more issues without solving any.
H1B and similar programs should be used to fill in the holes that are on the national level - i.e. where there's no labor force anywhere else in the country that could be enticed to move.