I agree, but I don't think the disruption will go the way you or I hope it would.
Many of the companies that is "one tier" below were able to offer higher comp only because of sky high valuation from the recent bubble. Most of them aren't in the kind of cashflow positions that can sustain such high cost if the stock value correct. If we enter an economic situation where stock value go down for companies like MSFT, Google and Apple, what do you think would happen to the stock price of high flying growth companies that don't even make a profit?
And guess what, most of them are coming to the realization that you don't need to actually pay $300k+/yr to hire some IC just to build React components or spin up another Node.js microservice. I know of quite a few companies (especially the ones that took a beating on the market recently) that's already starting to pivot more aggressively to foreign developers and starting to look at engineering offices outside of the country. If anything, the past two years only made a global workforce to be easier than ever to adopt.
Basically I think given the macroeconomic that's going on, the days when barely profitable or even cashflow negative "growth" companies offering FAANG-beating compensation packages will soon be gone. The numbers just won't add up anymore.