Under current conditions EU companies can hire pretty much anyone across the globe. Do you think SV salaries would be as high as they are if they could import any workers hassle free?
My ex employer was low balling everyone and after failing to recruit anyone locally due to low pay he the focused on hiring exclusively Indians and Chinese who were just happy to be in Europe accepting any wage citing the good air quality and social services compared to back home.
Don't get me wrong, I'm happy for them, and glad they're happy here but flooding the market with people who are happy to earn anything as long as they're allowed to live here is not a market I'd like to compete for work in as it increases the inequality putting all the gains in the hands of the employers.
We have enough skilled workers in the EU. Importing people with wages under €50k disincentivizes employers from paying fair wages and investing in local workforce and increases income inequality. If we're talking about a shortage of truly highly skilled people we have to import then probably we should be talking about setting the bar way higher than €50k.