I've only got 7 years in at one FAANG maxed out at L7, so you've got both years and diversity on me in terms of experience.
With that said I profoundly disagree about the plateau in effectiveness as an absolute thing. I started programming professionally when I was around 20 and got a lot better quickly. By about 24 or 25 I was pretty deep into the asymptote of what I was learning at various startup jobs.
I went into a marquee shop at 28 and my ability exploded for several years, before kind of sloping off again for maybe the last 2-3 of those 7 years. I left and did more entrepreneurial stuff in completely new (to me) domains, and have seen another crazy surge in what I can accomplish that's still running right now. I currently run circles around myself from a year or two ago.
There were definitely incredibly capable up-and-comers doing amazing shit at 23 when I was playing pro ball, but the truly heavy hitters skewed (again not exlusively) 40, 50 and up. It takes time to master a craft. Even the galaxy-brained 20-somethings were intellectually brute-forcing past some deficiencies in experience.
You go through Coders at Work which I hope most would agree is a pretty good sampling of real legends (it unfortunately doesn't include many women, I think just Allen, it's a product of its time in that sense and people like Liskov are no-brainers to have been included), and these folks weren't 25 then, and many are still kicking ass today. Brad Fitzpatrick I think was the youngest one when it was released in 2009 and he's kicking more ass now than ever.
Maybe in some group explore/exploit banditing the color of a button in the GMail compose window 20 years of experience makes little difference (recent meme from /r/ProgrammerHumor), but I think that meme is a caricature.