Why should someone be paid quite a high salary, for job that in your words requires a lower education? Shall we mandate all jobs should be paid well? If low skill jobs pay almost as well as high skill/high paying jobs, where's the economic incentive in increasing your skills? In many ways its a trap, because you won't go out of your way to increase your skills.
And when people say Taxi driving is actually quite a high skill job. I say you should have no problem fighting off the competition then.
"software developers as a whole will drop." And on that day, I'll get an MBA instead proving that the incentives work.
Regarding your MBA:
“A degree has value only if the degree is scarce, and the MBA is completely unscarce,” says Jeffrey Pfeffer, professor of organisational behaviour at Stanford Graduate School of Business.
http://www.ft.com/cms/s/2/2313a2f8-7c81-11e3-b514-00144feabd...
EDIT (to respond to your EDIT):
> Software developers have deal with unregulated competition and do quite well.
The level of knowledge and critical thinking required to develop (quality) software is a bit greater than that required to drive a vehicle. I'd argue that as additional resources are developed/released to aid people learning to code, along with resources that make writing code remotely with a team more painless, the value of software developers as a whole will drop.