And in countries where not having a job doesn't lead to lack of shelter, food, water, healthcare, etc.
Sure, there are a lot of applicants banging away hopelessly (because they’re not qualified and those people should not negotiate), but most everyone else in software who can land job offer N can land job offer N+1 without undue difficulty.
IMO, SWEs have never had more “walk away” power since I joined the field about 3 decades years ago.
In an industry that is deadset on focusing on worthless leetcode puzzles as the major gating factor for a hire decision, I struggle to understand how someone "banging away hopelessly" is decidedly unqualified.