There's also a bit of tunnel vision in that these amazing jobs didn't exist 10 years ago; the people who have graduated within that time span just feel like they've been around forever. But when I graduated, PHP programming paid less than working management at KFC. I even applied to a job at KFC because working in tech was this ridiculous fantasy, and I'd eventually run out of inheritance money.
I still don't have a FAANG job. And the odds of getting a FAANG job for me is much lower than the odds of making a million dollar company.
I think that's the case for many career decisions. Some guy out there has better odds at becoming a pro footballer than getting a FAANG job. Many people who become doctors are from doctor families. To them, amputating a foot sounds more doable than trying to make sure a server runs at 99.99% uptime.