I suppose you're technically correct about this being a "bad thing" for us personally in the short term. But why should there be a moat? If devs elsewhere can indeed do the same quality of work, why should our salaries be kept artificially high?
Stretching this to the limit, it would be a "good thing" for me if there was a law saying that I specifically should be paid more than all others of equal skill, but (even if I could somehow lobby to legislate that) I think I would prefer to compete on my own merits rather than artificial limitations.