I think there’s a massive oversupply of software engineers world-wide, and investors and executives are heavily pushing offshoring to countries where there are even more engineers that are even more desperate to find work. The ideology or focus of the entire US investor/executive class seems to have shifted as soon as Musk gutted Twitter. I fear this may be another, “these jobs aren’t coming back,” kind of thing the manufacturing industry went through. Perhaps we’ll see a boom of bootstrapped start-ups ran by engineers (or preferably worker-cooperatives), but that’s extremely hard to do.