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People who are talented will still be poached and head down south. Restricting mobility won't stop anything.

That would also create more incentives to simply do one's education south of the border, rather than risk being shackled by government efforts to halt one's movement.

Have fun paying 4-5 times more for the same education then...

People are eyeing the salaries they can get with that education. I can see plenty of people willing to swallow that cost in exchange for not having the government tying an anchor around their legs.

In New Zealand, the government funds tertiary education with a zero-interest loan. If you move/work overseas, it becomes a regular loan with 4% interest.

It gives some pressure to stay in NZ, but in reality, talented engineers can get over double their salary abroad.