100% this. If companies want to show that they're improving the diversity of the tech field, sponsoring study programs and science olympiad teams in underserved communities are a much better investment than quotas. The only thing that's going to increase the representation in tech as a whole is increasing the number of black, Latin, indigenous tech workers.

Instead, companies seem to only care about signaling diversity. When a company sets a quota and pushes their representation of "diverse" demographics up a few percentage points, they're increasing the diversity within the company. They're doing nothing to actually increase the diversity of the field.