I'm talking about what I perceive to be the median salary/conditions with big tech being only a part of that. My point is more that I remember back in that period good salaries could be had outside big tech too even in the boring standard companies that you state. I remember banks, insurance, etc paying very well for example compared to today for an SWE/tech worker - the good opportunities seemed more distributed. For example I've seen contract rates for some of the people we hire haven't really changed for 10 years for developers. Now at best they are on par with other professional white collar workers; and the competition seems fiercer (e.g. 5 interviews for a similar salary with leetcode games rather than experienced based interviews).

Making software easier and more abstract has allowed less technical people into the profession, allowed easier outsourcing, meant more competition/interview prep to filter out people (even if the skills are not used in the job at all), more material for AI to train on, etc. To the parent comment's point I don't think it has boosted salaries and/or conditions on average for the SWE - in the long run (10 years +) it could be argued that economically the opposite has occurred.