This to me is the real argument: those who can demand a high salary regardless of geography, and those who can only demand a high salary _because_ of geography.
The mistake is many people in the latter group think they are in the former.
The mistake is many people in the latter group think they are in the former.
Like many, I think I'm in the former group and will allow myself a little Schadenfreude if the latter group gets an "adjustment." Unless it turns out I'm wrong. :-O