The amount of programmers needed is rising across the globe. Every country is going to try to retain its IT talent. In a cut-throat globally competitive world you can't afford to be the country that lets its best minds leave to greener pastures.

Also, programming isn't the sort of job where you can fake your way through. If new people are trained up to enter the field they'll need to skills to match. As a relative share to population size the number of people studying computer science has been falling, not rising. These bootcamps and training programs are trying to bridge the skills gap, and so far have not succeeded. If anything there's going to be a skills glut, with a corresponding rise in pay.

Sure, employers always try to minimize pay. IT is not special, this is the case for all industries. Labor price is set through supply and demand, and programmer's wages are no different. Can you give a single example of an industry that used to have high wages but now has low wages? It would be exceedingly unlikely for IT to behave unlike every other industry.