I've been working remotely for almost a decade as a senior software engineer. Now, post-Covid, almost everyone realizes they can do the same.
Salaries are going to drop in the "rich world", and it's not just because people are now fleeing places like SF/SV to lower cost of living areas.
We are also beginning to compete globally, far more than ever before with the ease of remote work. Qualified engineers can be found for 1/10th of the price with "near shore" companies in the "rich world".
I know because I've worked with them throughout various roles, both as peers and as a PM/Team Lead.
The money may start flowing from the "rich world" to the "poor world" soon, no need for H1B visas or anything else.
The gold rush days may be over.