Arguably, the purpose of a company is to generate profit. If US companies need skilled workers that they can't find locally, they will open or expand their international offices. At least the O1/H1B visa holders pay taxes in the US and contribute to the local economy.
Arguably the purpose of a country is the furtherance of its citizenry. The US system should be set up to disincentivize US companies from bringing scab labor into the US.
In practical terms this would look like eliminating H1B/O1 programs.