It's very abusive to the workers hired as H1-B and it's designed for wage suppression. You can stay an H1-B for years. If you lose your job, you'll face deportation. It gives your employer a VERY large amount of leverage over your life.
It's supposed to be about bringing expertise when local expertise isn't available, but in practice it's companies saying "Oh, we can't find someone who will work for $50k as a software dev so we need to hire H1-Bs."
Either the program needs to end or the minimum salary needs to be raised to something like $300k to compensate for the leverage the employer has.