When somebody was trying to recruit me there, looking at the offering range and housing prices, I could fly myself to the French Laundry pretty regularly, and still come out ahead.
There's nothing wrong in living in SV, as long as you like it. Or liking it. It is wrong to try to make it out as if it were the best place fro everybody; or even everybody in "computers". It's quite demonstrably not, just like it's not quite that engine of innovation, especially world-changing innovation it used to be.
You also seem to be conflating companies (sure, it is easier to start a company in a place where you can get finding for almost anything, no matter how harebrained it is) and innovations. The way I see it, Web was an innovation (not from SV). A first browser that a normal person could use and would want to use was an innovation (flyover country). Showing that the Internet could be safely and reliably used for commerce (at least for a time)? Not SV either. These were world-changing innovations. Stripe or AirBnB? Not so much.