i would imagine other industries are going to suffer as well. my partner worked in fashion for a decade and realized it was horrendous and nothing was changing so she went to a bootcamp for UX design and got a job not too long ago. the pressure of the success of another industry would force bad industries to change certain ways of working for the better. when there is 0 competition, there is nothing stopping outdated and overworked industries from becoming any better. like it or not, the tech industry has helped elevate the broader market to a certain degree

Oh yeah you're right. I read it as "developers in the non-Bay Area"

Nonetheless, I don't think the point changes. One group getting less doesn't usually mean that it's going to transfer over and some other group will get less. Most likely, everyone is going to get less.

Rising tide lifts all ships as they say (and the opposite is true as well)