I think motivation is a bit more nuanced than that. Also what is said isn’t restricted to programmers. Money is an external motivator, which means it isn’t really motivating as in providing fulfillment and energy when doing a job. It can give you a reason to to the job, “it pays the bills” or “it pays the bills extremely well”, but that’s something different.

That being said, I do look for jobs where I am motivated about the projects and the environment. In fact this is the main thing I evaluate when applying for a position. I also expect to be (and am) well-paid but I’m not aiming for the top bucks, because those jobs don’t interest me. I’m spending 8 hours a day doing this work, a big majority of the high-quality hours of the week are sunk into the job. I’m happy I get to spend them doing things I enjoy, with people I enjoy working with, as opposed to having to slog through them just because I need the money.