The 'fair' pay in the Bay area is sustained/inflated by the vast amounts of VC money with a _huge_ appetite for risk. I am not saying this is necessarily a bad thing, but it is absolutely unique, you just don't have those finance conditions anywhere else in the world, bar maybe New York.

Also all the quoted companies in your comment will have physical goods with way way smaller profit margins compared to most Bay area products.

My point is that it is not strange at all if you follow the money.