[devnull255]

The information technology industry is a disruptive force in this economy. The way it has disrupted the global economy has changed over time as newer generations of technological innovations (e.g., software, programming languages and development paradigms) have overtaken older generations of information technology. As a consequence, these changes have demanded new sets of technical skills from programmers. Those who master the skills (and a lot who learn just enough of them) can command premium pay because of the labor scarcity they now find themselves in.

In my own 30+-year career, I've had to continually re-skill and up-skill to keep pace with the changes over the years and stay competitive with new programmers entering the industry. I have also been able to command a premium wage (even through the dot com bust) because I was always watching the industry and was able to anticipate and/or pick up whatever skill I needed to know next to remain in play.

I would conclude that the OP is right only if the IT industry itself stops being such a fast-moving, almost COVID variant-like industry disruptor, demanding brand new, rare skills or programmers decide to exit the tech skills arms race. I think I can go for another ten years at least myself.