You are living in a Valley bubble if you think $140k is "pretty low" for a new grad in general, and that's as total comp (not just salary).
Would the average joe/jane, given the offer of a "low" 140K salary at a FAANG, turn it down on ethical grounds?
I doubt it. The median US household income appears to be about 60K (1), so at 140K you'd be single-handedly over double the median houshold income before taking into consideration any partner's income. Thats a big deal.
This almost flippant attitude to employment and high salaries in silicon valley is somewhat worrying. I feel like people are growing increasingly disconnected from reality of life that the average person on the street has to deal with.
1 - https://en.wikipedia.org/wiki/Household_income_in_the_United...
I mean, I'm pretty average but I did that for a tiny bit more money considering equity at a startup. I think it's not an unreasonable assumption to make if your competing offers are similar, which a lot of people in this position do. I don't think there are many people who only get Facebook offers.
The calculus is different for interns though, on account of the massive signing bonus.