For sure, I don't disagree with that. As a developer though, one reason I would try developer auctions is for a chance at some ludicrously high salary. I'm just wondering if that is the reality or not. Seems like it isn't.
Most of the offers I got were below market value, I only received one offer that was /kind/ of close to what people are paying good engineers in NYC but they did not want to continue since apparently they were looking for somebody to work 80 hour weeks.
In fact, many more interview requests get rejected for "not interested in the company/industry" rather than insufficient compensation.
It's almost always more about the opportunity & the company, rather than the pay.