I'm from a similar area, I have a feeling you wouldn't consider it as nice if you were nonwhite, had a nonwhite SO, were LGBT, or got involved in the community outside the tech/corporate bubble (e.g. for kids). Or if you like more urban living. Or if you like more vibrant art/music communities. Or...

Of course some people like it and if they do there's a big COL disparity to take advantage of, but there are lots of reasons you might not want to live in a place like that.