Absolutely not true, at least in my experience. Could it be a Bay area problem?
I'm in Vancouver BC and interviewing right now and it's definitely different here.
It may have changed since I've been living in Canada, but total comp in Toronto at the time were HALF what they were for similar positions in California. Almost all my great engineer friends who still live in my home town in Canada work remote for USA companies for that reason.
The beauty of the peer chat was that it shows the company culture. Lot of interesting people. And makes you highly interested in the company and the job.
Not all experiences were great, but I didn't have to go through painful whiteboarding sessions