I'm not sure what I'm supposed to gather from this John/Norman comparison. If John has the same amount of natural talent as Norman, after a few years of full-time professional development work he's likely to be just as valuable as Norman. There's plenty of time to become really competent and valuable even if you start very late (like in your 30's or 40's, which I assume classifies as "freaking ancient" in many companies' eyes). I don't see how one person having some imagined head start figures into whether there's a shortage or not; but then, I don't live in the valley, so perhaps this is a cultural thing there.
I do agree, though, that there's a lot of companies out there that seem to want the top 1% (all the while offering bottom 25% rates).