How about “leaves the industry rather than have to use terrible things at dumb companies”, thus giving a survival bias that selects for shiny. I know I feel that way about a lot of stuff now.
Combine that with gatekeeping/I did my time you have to do yours and not much has changed there over the years.
I'm sure there are some great companies out there, but they seem to be rare. I just see don't see work in this industry to be sustainable and I cant see myself working as a Software Engineer when I'm 30+ or with a family.