This was true during the dot com bust as well. Basically good technical talent is good technical talent right? If things are similar to the dot com post partum

This was true during the dot com bust as well. Basically good technical talent is good technical talent right? If things are similar to the dot com post partum it won't be as great for middle/line managers. Those folks often found themselves with a management practice from a company that failed, and that sort of tainted them as well seeing as "management" was considered the reason things failed at the company. In the early 2000's I saw a lot of resumes of "engineers" where their last job was management. Sometimes that was fine, they had kept themselves fresh while managing, sometimes not so much.