Here in Portland, which is a relatively cheap city compared to most tech centers, $100K isn't enough to get the attention of any dev who isn't just out of school, and even those devs will have an easy time getting something better-paying in a year or two once they have some practical experience under their belt.
That's not true. The average salary for a Software Engineer is $101227 per year in United States. Data > personal anecdotes. Many SWEs earn less than that.
$100k/yr is still enough to provide for a family of four in a huge number of places in the U.S. if you're in a more suburban or rural environment, which is still 9 digits' worth of human beings easily
If they're offering remote work from anywhere in the country, including areas with low cost of living, for recent college graduates, maybe this makes sense.
For anyone who has been in the industry 5-10 years at successful corporations the max total compensation of under $150K would be taking a massive pay cut.
I think many people are not saving enough for retirement. $100k for a family of 4 in many suburban areas could be tight if sufficiently funding retirement accounts.