The FAANG crowd is used to pulling down $100k-$150k. Developer jobs that are advertised as remote from day one tend to be closer to $50k-$70k.
(These numbers are based on a combination of rumors and job board postings, so no, I don't have a source to cite.)
That said, I agree that your average non-FAANG job pays about half of FAANG. Although this is true regardless of remote-ness.
If you're a good developer with experience, it doesn't really matter where you are. I actually get paid more total comp than I would in SF, my cost of living is lower, and my tax situation is much better.
Once I found the company and nailed the interviews, I got an offer ~30% lower than the SF salary because of CoL adjustment. My position was that if my salary could be offset by much riskier equity (aka more than the 30% cut, but essentially free for the company), I would accept the position. So I ended up getting a larger total comp than would have been available to me in SF. Also I don't even need 50% of my salary to live outside of CA anyway, so it's a major lifestyle upgrade.
This only works because I get to choose any company in the world. That means the equity I get is something I would have invested in anyway given the opportunity.
For the first time in my career I feel that I negotiated well and have confidence in my employer, and it never would have happened by just being another dev in the bay area.
On the flipside, many many remote jobs pay significantly more than you're describing, more in line with every other non-FAANG developer jobs. If you're just looking at those poorly managed "Remote Job Board" sites, of course you'll think that, because most of those jobs are just subcontracts and gig-type roles.
Yes, there'll be a COL difference, but it's not like you're describing. Gitlab, as an example, pays a Data Engineer in nowhere Indiana 90-120k for remote work.