It's definitely got worse over the last ~10 years, but the pandemic era hiring from 2020-2021 took it to new level of bad at many companies. Anyone who had done some basic coding was getting hired at a great salary in 2021, and these individuals are still around today – some now calling themselves "senior developers".
But I completely agree with what you're saying here about about it no longer being nerds working in tech. A nerd who isn't the best coding will still engage with me about technical details, be keen to learn new things, and care about their work. A lot of the new guys I work with today are just doing the bare minimum and they think you're an idiot for caring.