Definitely possible and likely true to some extent. Smart people who don't have a particular passion and may have chosen finance/consulting in another era are considering tech.
Though I do see a lot of people move in and out of being high leadership at smaller companies/startups and into manager/director positions at FANG.
How this is all going to lead anywhere worth going is anyone's guess...
But, a more positive change is that there will be some high-impact multitalented genius individuals that choose to pursue tech instead of high finance or politics or something like that. Jeff Bezos left a hedge fund to start Amazon. Now he may be a ruthless son-of-a-bitch when it comes to competing, but for consumers the positive impact has been enormous. He's likely done far more good than he would have being a lifer at D.E. Shaw.