I saw the same influx of salary-seekers during the dot com boom. Generally people that don't have a native curiosity and love of computing just don't pan out well. I'm not gatekeeping or against them trying, would love it if people were more honest about it but honesty isn't part of the hiring culture ("why do you want to work here?" "money" is frowned upon as an answer.)

It would be like if there was a housing boom and residential house framing ramped up base hourly pay to $100/hour with lunches provided and relaxation chambers onsite. You would see a huge influx of people going to it for the money rather than someone who is really into construction, knows load bearing tolerances, code for hurricanes or earthquakes, how to properly frame stairs, etc.