Yeah, for $100k or slightly less you can hire very good devs with 5+ yr experience in CN or DE. Often speaks English at full professional proficiency without the help of LLMs too. I know because I currently work for a fully remote startup with people from both countries. For that kind of money you can do what in the U.S., hire below average juniors? Even the most clueless junior likely makes more in SV.
Flip that around. Junior devs in the US earning $100k is the anomaly. The fact this is the case indicates the pipeline for competent developer talent is bottlenecked. Right now is still an amazing time to be in Tech. The fact the industry is so hungry for talent it’s paying such rates and is expanding abroad in search of new supply is a sign of it’s health.