Then I seriously don't understand why so many tech workers want to lower the bar for entrance into the profession and induce higher supply of tech workers. What they don't realize is that that won't make lives better for the new tech workers - it will just make it worse for existing tech workers (just like what mechanical engineers or lawyers went through).

This is probably the biggest con pulled by tech companies - play on egalitarian tendencies of tech workers to induce more supply and thus gain additional leverage over employees.