The notion that someone would leave the tech world for a job in the service industry because it comes with more respect is absolutely wild to me. That's so far away from my personal experience I honestly can't fit it into my mental model of the world.

Maybe I'm misunderstanding you, or maybe your experience is actually super different from mine. Either way I'd be very interested in an elaboration.

Perhaps OP meant as a trend over time? That has truth to it if you compare going back to the early 90s (my frame of reference).

In the 90s programming was not that well-paid, but was a very respected role in the companies I and my circle of programmer friends inhabited. A programmer/sysadmin was a wizard and treated as such. It was a vastly more fun industry to be in even if salaries were just regular white-collar professional level.

Slowly in the 00s after the dot com crash that seems to have vanished even as salaries started to climb. An in the 2010s programming became a low-level job where all the decision making power was removed from programmers and handed over to PMs. Now programmers are seens as replaceable worker units to be micromanaged to death via agile and daily status reports. In other words, not respected professionals anymore. The insane salaries kind of make up for the loss of respect, but not fully.

For the first couple decades of my career I always felt this was the best field of work ever, and it was. These days though, as I look at my high school peers who went into medicine, law, accounting I have to wonder. They all get ever more respected in their fields as they gain more experience, very much not the case in software anymore.