You're not wrong, but it's also so sad.
FAANG used to be the _dream_. Change the world. Work on groundbreaking tech. Solve harder problems than anywhere else. Get Paid incredibly well.
Then I guess a generation focused exclusively on that last part flooded the zone. I still believe that The Great Resignation of 2021 did more harm to our industry than COVID or any interest rate or VC changes.
It polluted the brains of most of the people in our industry from a missionary mindset to a mercenary, and it decimated big company's established cultural memory all to prop up a bunch of unicorns who will probably all slowly die over the next decade.
So now half of the people can't get a job, and the half that can are miserable. This was true BEFORE AI.