The company's aim is to import low-wage labour on the promise of access to the states. The employee's aim is to obtain access to the states in exchange for accepting sub-standard wages.

I'm not sure how savvy employees jumping ship is a moral failing of the employee rather than a retention rate issue to be addressed by the company.

Neither is underpaying employees, which companies like Infosys are known to do on a massive scale. If they really want the talented engineers to stay, they should consider paying them market level salaries, having a clear career path etc.

An H1B is not a promise to the employer, BTW. It is a regulatory requirement imposed by the US Government, and not everyone gets it (you gotta have a college degree, masters degree helps, and then get it through a lottery process). If an employee gets a better offer, he/she should absolutely take that offer.

H1B visa jobs are supposed to pay the prevailing wage to the employee, if they did in fact do that how was OP able to find a better job so quickly?

I know h1bs who jumped to Amazon, Intel etc. The salary increase was significant, but they were relocating from low cost of living areas to the big cities.