It assumes that money is a motivation, which is generally true.
With low pay, you’ll get true believers and people who are bad at their work.
With high pay, you’ll get true believers, people who are bad at their work, and people who are good at their work. You can fill more positions without taking the bad ones.
As for what this says about society, I think all it says is that money can be exchanged for goods and services. If I’m selling ~50% of my waking hours, you’d damn well better believe I’m going to try to get a good price for it.