Outside of the executive suite, most positions within a company are fairly easy to fill. Filling engineering positions are difficult because not only does the person have to have the right technical chops, but he/she must also be a good fit for the organization. This is why engineers make more than finance, sales (excluding B2B field account executives), marketing, and operations.
If VCs and companies could flood the market with engineers, regardless where they are from, it would make hiring one much more cost effective. In medicine and law, there are barriers to entry to prevent this type of flooding to occur (i.e. education, licensing exams). This keeps wages at decently high level for those participating.
My suggestion for engineers is to quietly and deliberately create barriers to entry. You could leverage licensing exams, college degrees, and even citizenship requirements. Otherwise, within 10 years, you will find it a significantly different employment environment.