My co-founder is in the US on a visa that was sponsored by Google (and he still works for Google). Had that not been the case, he might still be in Australia (we probably could have made it happen had we needed to...but, he might not have had the motivation to come here without the Google job).
What I'm trying to say is that H1B does tend to lend itself to indentured servitude. Foreign workers here on a visa are less likely to seek other employers, because they have a visa to keep renewed, or they have to seek citizenship (which is a whole other pile of problems). That probably does depress the industry baseline salary.
But, my desired solution is not to reduce the number of indentured servants, but to kill the limits on their freedom to work that makes them indentured servants.