AirBnb lost billions of dollars last year, and it has rarely made positive quarterly earnings. Based on your example, the engineers are highly overpaid as there efforts rarely generate a profit. They are being paid by funds from speculators (stockholders and venture capital) that are betting on huge profits in the future.
In reality, these engineers are being paid due to labor market forces and extremely focused recruiting policies (eg only hiring those with degrees from top engineering schools or poaching workers from other companies that have similar policies).