> Not really, Big Tech pays H1Bs competitive salaries

That doesn't challenge the argument. Wages are set by supply and demand, expand the supply and wages fall. It doesn't matter if H1B wages are similar to a U.S. residents; wages as a whole are depressed.

As a personal example, the entry level of my field is almost completely composed of freshly graduated H1B Visa holders. The market rate is dictated by whatever their wages are, which actually isn't too far below the $200K headline number.