I wish they encouraged more of learning by doing here and we could've had better people to boast about.

I don't think I'd use the word "better" here. As a US senior developer who delegates a lot of work to both Indian contractors and in-house junior developers, it really doesn't help me when the person I'm delegating to can't do the job well, but works real hard at it. That just wastes time and still produces inferior code. I'd much rather have the person tell me "I'm lost and can't do this" right away, so I can either delegate to someone else or provide more detailed directions earlier rather than later.

Also, consider applying that statement to any other professional career. Would you want your less-capable doctor to be allowed to practice medicine because he can memorize really well and follow checklists? No, of course not: the less-capable doctor should be forced to find a career he's good at.

The person who graduates at the bottom of his medical school class still gets to write "Md" after his name.

They may be at those grad schools "around the world" precisely because their native culture does not value creative, innovative work that goes beyond rote memorization and checklists. There are brilliant and creative people everywhere, but the culture you are born into has a lot to say about how brilliance and creativity can be expressed, if at all.

My gut instinct is that the sad state of Indian IT is purely a result of being supported by clueless management in developed countries thinking they can easily save big bucks by outsourcing. India is just filling a demand.

After a decade or two of Indians growing up in this economy and seeing the failures first hand, I predict things will have equalized quite a bit, and the smart Indians will all be saying "Why work for clueless bosses when we can do better and we have huge markets of our own?" Of course that process will be kickstarted by Indian expats witnessing the failures of enterprise IT firsthand in the richest corporations of the world.

Well, the rich countries aren't going to lose their edge in tech innovation in the short term, but that doesn't mean that a lot of jobs won't continue to migrate to poorer countries.

This is an old tune though -- as technologies slip away from the leading edge they tend to relocate to places where they can be produced at a lower cost. It sounds like what the CEO quoted in the article is saying is that Americans don't fit the bill for that kind of development.