Those recruiters aren't calling for your benefit tho'. They are calling because they want to sell you like a piece of meat. That's just a sign that nearly everyone connected to the industry who isn't actually an engineer themselves is trying to exploit engineers in some way.
What they lack is experience, but as the technology landscape changes every second year many believe experience doesn't matter
People believe what is to their advantage to believe. Getting an experienced engineer at a knock down rate because they've been tricked into undervaluing their experience suits VCs and managers very well...
Compared to..... what?
Calling me because of my good-natured character and my unparalleled virtues?
Just a data point, but it happens to other fields as well. Also, FWIW, she's making about 80k and if she commuted into Seattle, I see jobs posted there for 100-110k quite frequently, for non-managerial positions as a PT. She claims she could make more (at least hourly) as Home Health or a inpatient retirement home type of situation, but likes outpatient too much.
Granted, that's about it, unless she opens her own clinic or goes into management, where as 110k in Seattle gives me some room for salary growth. She also doesn't get other compensation so my point is more about demand of PTs being pretty comparable.
One day at a big family union I got three phonecalls from recruiters. My whole family rolled their eyes, while I politely said no to those recruiters with below average offers. I told them that this is usual, I get a few phonecalls from recruiters every week. None of them who work as doctors, teachers, accounting, geophysicist, even an old CEO of a $200 mill company has ever experienced something like that. They may get a recruiter calling once a year.
Most programmers don't know their real value and way too many say yes to work below average market rate. Younger ones a often preferred as they are easier to manipulate, have no idea about their value, and hardly ever says no to something. And they are brilliant and smart for bargain.
What they lack is experience, but as the technology landscape changes every second year many believe experience doesn't matter. That may be why so many companies are struggling with technical debt.