I've been into programming most of my life, but actually didn't get started professionally until my mid-to-late 20s. This gave me a unique view of said propaganda. It certainly lives everywhere including outside SV. I've been able to quickly recognize it being applied and thus desire other, better forms of compensation.
I think this is a skill we should strive to teach younger programmers, because if properly applied across the entire industry, we can raise standards across the market.
Just because they're willing to working 1.5-2X the hours doesn't mean they should be. Your time is valuable no matter how old you are