1) Near monopoly in that sector 2) Excessive surveillance and tracking users 3) Increasing inequality between haves and have nots.
And non-FAANG type IT worker are also paid relatively high at the cost of other workers living perilous lives.
So unless Europeans really start cherishing these "values". They are not gonna get US level salaries. The way I see quite a lot non-US / European people just like high salaries but never want to think where it really come from.
All this talk about Europe does not respect/appreciate / values Software engineers sounds more and more like coded way to say We, software people, deserve much higher salaries at the cost of everyone else.