That mindset seems mostly in the bay area, so they can cult the young into their world changing mission while building their next Snapchat. Senior engineerings

That mindset seems mostly in the bay area, so they can cult the young into their world changing mission while building their next Snapchat. Senior engineerings/developers accumulate experiences that goes beyond just implementing a feature, they can make better decisions, work better with people, manage stress better, more consistent in their work etc. And those who want to stay technology make the transitions to emerging tech relatively easy. But if the person is lazy, don't invest in their career growth, then yeah, just like any other job, they'll soon find themselves stagnating.