Where are you getting "less competition"? The article clearly says that's not what happens. Study after study has shown that immigration generally has a net positive effect on the US job market.
What'll probably happen is a spiral like in the US South and rural/republican areas. The economy keeps getting worse and people keep getting more hateful and anti-intellectual and self-destructive.
I don’t really know what the studies show or how accurately they represent the effect of restricting H-1B today. I do believe there is a chance it could help the native population, partly because a lot more Americans studied CS in the last few years after it became a prestigious and high-paying career compared to its usual immigrant dominated status. I'm tired of the constant slurs and hatred. It’s better for immigrants too to be turned away before getting a visa than live amongst people that hate them. I know many people believe that eliminating it would cause less competition and they have many anecdotes to back this up - including discrimination by some hiring managers, caste system stuff, poor work quality, etc etc. Ive seen enough evidence that this is not just a fake bot created trend - a lot of people really do not want immigrants. Democracy demands that the government run the experiment and gives the people what they want.
That's a lot of evidence free speculation. "Many people believe", and you doubt any studies that show the opposite.
Meanwhile China is listening to their experts
https://www.china-briefing.com/news/chinas-entry-exit-k-visa...
https://www.youtube.com/watch?v=jC8f1qs3TGs
That's life, I guess. There's an ancient Chinese saying: Wealth does not last beyond three generations. Too much easy money probably makes you stupid, like trust fund babies.
H1B is not immigration. It’s a temporary work permit based that can be revoked at any time by your employer firing you.
H-1b is not an immigrant visa but, because it is dual intent, it is frequently used as a part of the path to immigration but would-be immigrants, and the fact that H-1b immigrants disproportionately come from places where immigrant work- and family-based visas have long wait lists because of per-country caps has a positive feedback relationship with this, both contributing to it and being reinforced by it.