Slashdot had a post about this topic a few years ago that I thought was colorful enough to save for posterity: https://developers.slashdot.org/story/18/03/14/1428242/deman...

The top comment seemed to capture the problem best:

"What is in extremely high demand is programmers with 20 years of experience in a technology that has been around for 5, no older than 19 and working for 20k a year.

And that demand will be high, forever.

Pay more and you get more. Pay this and what you get is code monkeys that couldn't find a better employer"