[Kranar]

250k is not top dollar for programmers, but it is top dollar in absolute terms. The point is that you don't incentivize better work by paying top dollar. Taking a mediocre developer and paying them more doesn't make them a better developer or even motivate them to become better.

It can attract people who are already good software developers absolutely, but the second point being made is that you also attract a lot of charlatans as well and so just throwing more money at the problem isn't exactly a great solution.

You need a solid culture to go with the money.