Exactly. Careers with a low barrier to entry will eventually settle on low wages. Despite what many believe, programming has a quite low barrier to entry. Supply was artificially suppressed because college was the only place someone would teach you to program, so programmers either had college degrees or were self-starters (comparatively rare).

But the trade schools are finally catching up to demand. The era of 160k dev jobs without very advanced/complementary skills/knowledge are quickly coming to an end.