The Americans you work with (along with your other co-workers) meet the bar.
If there were more Americans that met the bar they would employ them before taking on all the extra work and cost of immigration.
I'm not talking about Americans you work with. I'm talking about the mythical ones you don't work with that are somehow disadvantaged by H1B and thus unemployed/underemployed. You don't work with these people because they don't exist.
As your main point.
More educated or not doesn't actually matter, whether they meet the bar or not is all that matters no?
My over-arching point is if there were more Americans to be hired that meet the bar they will usually be hired before immigrants because they are less paperwork and money (immigration lawyers fees).
Also I think comparing to immigrant education isn't necessarily a great idea, immigrants need more on-paper education to simply clear the immigration requirements because most governments around the world place a higher emphasis on that than work experience or their salary. US in particular values years of education at a roughly 2:5 ratio vs work experience with 10 years of work experience necessary to qualify vs a 4 year degree.
If you are somehow implying immigrants are fundamentally less intelligent then yeah I don't know what to tell you but that is probably not correct.