Probably a step in the right direction. But if you can hire someone abroad for 20% of the cost of an American worker, then instead of replacing one American with five workers, you replace them with four.
The range difference really depends on where you are too. Unless you're chopping wood, you still need competent people with the right skill set and ability to communicate. When controlling for that I find it's much closer unless you're in SV/Austin/NY.
The 100k fee on new applicants? drop in the ocean.
The h1b people spend (most) of their salary in the USA and pay US income taxes. Whereas overseas labor spend their salary over seas and pay no US taxes.