Even if you have an India/LATAM presence, the higher end of workers from those countries are still mostly migrating to other countries for higher salaries. So you still need H1Bs because you aren’t getting that person in their home country.
Up the skill tree, companies often really get what they pay for, so the saving on offshore work is that they were overpaying for some lower skilled tasks, but not the higher skilled tasks (it’s a world market for top talent).