For at least the last 3 decades programming was a field that rewarded utter mediocrity with (relatively to other fields) massive remuneration. It has been filled with opportunists for as long as I remember.
IT isn't the only one - finance and law had the issue since forever, AFAIK - but now I'd rather be in a field that's _actively repellent_ to them.
Regarding quality overall, I agree, it's truly a cursed field. It was bad before; and with LLMs, going against that tide seems more difficult than ever.