At the same time, I think there’s growing awareness of the “quality” of a lot of tech giants. Once the market gets flooded with people who are too bad to even be retained at companies like Facebook or Google, it may merely end up being a black mark on your résumé.
Similar to how some people choose to leave the specifics of their degree or some unscrupulous jobs off their history when looking for jobs, people may minimize time at a FAANG if thousands of them are entering the market all at once.
When you’ve got 5 applicants who twiddled their thumbs at Facebook for 5 years and all with similarly overinflated work history, someone with a decent GitHub profile and a visibly launched product from a tiny Midwest shop doesn’t look bad.