>and you have to keep up with everybody who ship twice as much code as before
The competitive nature of this regard was always there, it just took a pause during Covid hiring.
FAANG in mid 2010s used to be fairly competitive.5-10% of the people that got the in-person interview got the offer. The stories you heard about work load and stress and PIPs weren't so much about how the expectation was, it was more along the lines of the bottom line of developers who never developed the skill set to be effective at work just couldn't keep up with the people that did.
Companies still grew, so people were still building stuff, and if you knew any of the "top" developers, you saw they weren't stressing. Partially, they enjoyed the work they did and weren't working for the FAANG paycheck only like the majority of people. But mostly its because when it came to doing the work, the biggest advantage that they had is they had the ability to independently figure shit out. This is where "knowing how to code = knowing how to google" and "copy pasting stackoverflow" memes came from. Whereas people that didn't were always slow because they a) were only doing what they have been taught without any interest of actually learning things, and b) they relied on others a lot for guidance.
Then came the covid hiring craze when interest rates were low and companies invested a shit ton of money into products. People needed to get hired. Standards slipped. Lots of people with very low skill got hired that should never have been.
Now, the competitive edge is back on, except this time, its about how to use LLMs. Contrary to popular belief, LLMs take skill to use, not everyone can vibe code services into production. Prompt engineering is very real. To get LLMs output good quality code you have to guide them quite a bit. If you don't have a set of personal prompts you use to get LLMs to do stuff, you are behind.
Thats the nature of the game where new grads can make 100k out of college. That money isn't free. Learn to play the game or don't play at all.