What you're seeing is really the same pattern as the late 90's dotcom boom-bust. Then, too, TONS of people (and their sisters and mothers) went into the "Information Superhighway" to become "WebMasters" and develop "Web Sites" for businesses large and small as more and more money plowed into those companies and a rush for talent, including not-very-much talent was drawn into the field because of the $. When the dotcom bust happened, and believe me, there will be another (even if different) correction again in the future, many of those same people will exit the field from layoffs or finding another job in tech again becoming hard. They'll migrate to another field that pays OK that they can find their thing.

And then, rinse-and-repeat, we'll probably see the same cycle again in the 2020s thru the 2030s.