That said, back in the early 00s there was much more of a culture of everyone is expected to be self-taught and doing real web dev probably before they even get to college, so by the time they graduate they are in reality quite senior. This was true for me and a lot of my friends, but I feel like these days there are many CS grads who haven't done a lot of applied stuff. But at the same time, to be fair, this was a way easier task in the early 00s because if you knew JS/HTML/CSS/SQL, C++ and maybe some .NET language that was pretty much it you could do everything (there were virtually no frameworks), now there are thousands of frameworks and languages and ecosystems and you could spend 5+ years learning any one of them. It is no longer possible for one person to learn all of tech, people are much more specialized these days.
But I agree that eventually someone is going to have to start hiring juniors again or there will be no seniors.