To add, just keeping up in this industry was already a problem. I don't know of many professions[1] with such demands on time outside of a work day to keep your skills updated. It was perhaps an acceptable compromise when the market was hot and the salaries high. But I am hearing from more and more people who are just leaving the field entirely labeling it as "not worth it anymore".

[1] Medicine may be one example of an industry with poor work-life balance for some, specifically specialists. But job security there is unmatched and compensation is eye-watering.