This isn't accurate and hasn't been for some time. Microsoft's engineers are lower-quality than their peers, because Microsoft has been offering lower compensation than their peers -- by a substantial amount -- for over a decade now.
Maybe lower-level engineers don't really matter. I don't know. But unless you're at the partner level, you're getting paid a lot less at Microsoft than you would be elsewhere, and in light in recent events, you're not even benefiting from the stability you'd get elsewhere. I suspect this will have long-term impacts on Microsoft as they continue to lose talented engineers at the lower levels, but no longer have talented old-timers around at the higher levels. Once people at the 67+ level start retiring en masse, I'm not sure Microsoft actually has the talent to replace them.