Honestly I've been in markets where this worked out. You pay a lot of money to get someone good who's motivated and does great work. Tech recently though has been a game where you get a high paying job and you just spend a year trying to get the next one rather than working.
On the other hand, it only exacerbated the cynicism and burnout covid and WFH brought. Trolls are rewarded with attention through "engagement" with their incendiary posts, misinformation and speculation passed as dogma are rampant, and as you mentioned the collective priority in "the community" is this egocentric worship of money. It reminds me of the subreddit /r/relationships, where the number one piece of advice is to obviously break up or divorce because you're getting screwed over. Blind's number one piece of advice is to obviously grind leetcode and start interviewing because you're getting screwed over.
One thing remote work might bring us is a little more chill about compensation, as people live in regions where people not optimizing for TC can be comfortable and secure.
While Facebook/Meta, Google, and others have always paid comparatively well, in the past 2-3 years the pay shot up even higher and the only price of admission is supreme obedience to "grinding LeetCode." This hysteria created an entire culture of pay chasers that congregate on that Blind website with little regard for anyhing other than compensation. These people, who I consider to be among the most toxic people in tech, have a singular focus on pay and it is not at all surprising that when put in minimal supervision environments they choose to merely exist and collect said paycheck. CEOs lamenting this are merely reaping what they sow.