Pay for software engineering will contract because it turns out programming is not that difficult and there was nothing special about the sf set except their need to cover stupid high rents.
No, there could be a long tail of meagerly paid folks, just like baristas who aspire to be professional singers. But some folks (allegedly the best of the best somehow) will be getting top dollar.
Software developers don't really have that. Maybe if you're John Romero people buy your games without looking too closely, but it's pretty rare in comparison.