No one with experience who currently makes top dollar would take jobs that pay them significantly less, especially as cost of living all over the country is sky

No one with experience who currently makes top dollar would take jobs that pay them significantly less, especially as cost of living all over the country is skyrocketing. Companies will need to compete for those developers, and they'll have to compete on wages, as well. I used to work with developers in Eastern Europe who made the same amount of money as their peers in SF made, despite living in countries with median salaries of ~$8,000 USD a year. People with skills can and do command high compensation packages that are independent of where they do their work from. Market rates for talent already factor in domestic and global markets.