It is, yes, but there's been a steady outward movement of Oracle engineers to other companies. Red Hat picked up one of their top performance engineers to work on Shenandoah and Twitter picked up the compiler engineer who was leading their AOT efforts.

Additionally, so many companies depend on Java (including Oracle!) that if they suddenly laid off the entire developer workforce I suspect they'd all be hoovered up by other companies and put right back on their old duties, just in different offices.

Also it seems a lot of the JVM engineers are based in Russia, where presumably their costs are not that high.