Being a lifeguard in LA would be a dream job for millions of people especially if they could make $400k a year doing it!

This is low skilled labor! The only requirement is to be a strong swimmer and have basic leadership skills.

I don't think supply of willing lifeguards is a constraint here.

I'd imagine if LA county put out an ad to replace their top lifeguard and offered even $200k a year they'd receive thousands of applications from perfectly qualified people.