What can a mid level person do? Instead of a consultancy loaning out a team of 3-4 people, it might just be one person now. That could mean a lot of downsizing.
One thing mid level people wouldn't be counted on to do was create Photoshop or Paypal. The original thread is about top level pros being the ones who stay in the industry, right? That sounds about right if we're moving the conversation over to Photoshop and Paypal.