I know this can sound very first world problem in the current context, but peanuts is always relative to how much things cost in your environment and how much the purchasing power of everyone else is. If every office worker earns as much as every dev then devs do earn peanuts.

Devs in the US and other regions have the unique advantage of earning far more then the median in that area, therefore not peanuts.

Like how if you're earning on 80k in SF you're basically in poverty despite being in the 5% top earners globally.