For me, I take joy from my work. I get to build something new and cool, and I work with a bunch of fun people.
We have enough money, and sometimes enough is enough. I could earn much more at another company, but why? What would I do with the excess money? Buy more shit I won't use? I earn enough money to support my family and I get it from a job I find personally satisfying. More money won't make me any happier, and will just cause more problems. No thanks.
Trying to maximize my salary at all costs just so "number go up" seems incredibly unhealthy and shortsighted. I'd rather be happy and fulfilled.
So I make around 3x what I actually need to but save the rest. I expect to have enough to “retire” in a few years and then I’ll be able to pick jobs purely based on interest and fun and not pay. For me that’s worthwhile.
Sounds like you have an exit plan already worked out? You sound like you have a good retirement saved up or something else working to keep you free of worry.
For the majority of ppl working in this world, they don't have any options which is also accompanied by debt, and the future is always uncertain unless progress is upwards, and most of the time there is a ceiling to potential... There's often no healthy choices for people who didn't have the ability to save up.
If $200K/year at senior/principal isn't "sustainable"--well, move out of the SFBA, I guess.
There was much more of a delta when I started doing this ~10 years ago, but even then few people were in a hard spot (again, SFBA types maybe excluded, get another two roommates I guess).
This is in my opinion the biggest luxury of working in tech over a lot of other occupations, being able to fairly comfortably value other things over salary and not having to take whatever job that pays a little more.