This isn't unique to software engineering. In Renaissance Italy, mathematicians like Tartaglia and Fior hoarded cubic formula shortcuts like proprietary algorithms and challenged rivals to public math duels. Today, we solve cubic equations without a second thought. Special functions used to be a staple college course for physics and engineering majors. Are they still? The US military used to employ thousands of people just to calculate PDEs by hand. Do we need anyone doing that today?
Our only hope is that our society moves fast enough to create new demands and problem domains that genuinely require new systems and algorithms. Look at AI: it’s evolving rapidly, driving massive demand, and forcing the development of new systems and architectures. As a result, the lucky few[1] working at that frontier are having rewarding careers. Without frontiers like that, the rest of us risk becoming irrelevant.
[1] One unfortunate factor is that building AI now requires lots of capital for accessing GPUs, which means individuals in the open source community have a hard time working on it.