It depends on what you are optimizing for. If you are just optimizing for making the numbers go up, the yes letting big tech hiring all the available foreign workers so that they can do even more big tech stuff, increase their revenue, lift their share price, produce GDP, increase tax revenue etc. But what if you care about the diversity of the foreign workers in terms of field or specialty? What if for example you have a "Made in America" slogan and want to hire manufacturing workers so that we can have a renaissance in manufacturing?

The current H1B program is terrible in that it has a lottery. A strict salary-based distribution is marginally better but I would hope that it should incorporate multiple factors.

The issue is that people opposing it don't have a coherent view of what they want. They don't want a free market solution; they don't like the socialist position where the government picks the people; they don't like the lottery either. They want their preferred type of people to get the visa in a manner not too different from quotas/dei/affirmative action etc., which is impossible to engineer. It ultimately ends up creating a compromise brokered by lobbyists and politicians, kind of like how we do everything else in the country.