Yes, even at 400k it's still salary depression. The whole thing is, essentially, regulatory capture that is being used to do a sort of "arbitrage" over people.
Big corporations in the West are cannibalizing society because governments are failing at defending the interests of the majority due to the lobbying power of a minority.
Mind you I am not talking about an uprising or some bullshit like that, but, for example, the situation around medical service/insurance in the US is appalling.