> But, if you look at some of the latest dev surveys, you'll see there's a ton of fresh talent entering the work force and it's only a matter of time before they become mid-level and senior (5-10 years). At that point, the supply of engineers will far exceed the demand and the same thing will happen to engineers as any other white collar profession.

While I don't disagree we could see a demand contraction, I think your assertion is based on a tenuous premise at best: tenure == competency.

I've had the misfortune of working with many "senior" engineers who struggled with basic technical concepts and even more basic reading comprehension.

The demand for great engineers will always be there. What the market will be flooded with is mediocre ones who have improved nothing but their title in the 5-10 years of their career