Have you seen the offers for remote work? Almost every one is "remote (us citizen)", "remote (same timezone)", "remote (monthly onsites)". Unless the companies are prepared to open whole divisions with colocated management in other countries, the jobs are staying local.

Hiring foreigners is a pain. Companies did it because the headache offset the savings, without the savings the headache may no longer be worth it.

Many of them definitely won't, but daylight and the location of management's homes are still limiting factors to off-shoring. Synchronously managing people in distant time zones is no fun, and trying to do it asynchronously is really inefficient. There may be a solution to this 'problem', but until they come up with it, letting people work remotely from their homes in the same city isn't a slippery slope to all jobs being off-shored.

Or, probably more accurately, it is a slippery slope, but not a very steep one. I do believe that jobs (and wages) are going to get distributed differently in the future. But, I'm hopeful that it'll be an improvement over having every high-paying job be in the same 5 dystopian cities.