The bubble burst in 2001, it took me 3 months to find another job, and I had to switch my role from a primary development engineer to support/operations roles and I have never recovered my career from that. Based on what I hear, the market today is much worse than that.
During the dot com boom, the scarcity of developers relative to demand for them was orders of magnitude worse than in, say, 2020. After the bust, there was perhaps not a scarcity, but not much of a surplus the way there is now.
Also developers were a much smaller piece of the economy.