Shortage of devs is (was?) a very popular talking point, but is it really true? If each developer was so unique, special and valuable, would companies be laying them off now?

If the developers were so hard to find, wouldn't companies adjust their expectations and work with who they can find, instead of having them play Leetcode and other crazy games that have very little to do with day to day realities of work at the company?

When there's a famine, people don't complain that their T-bone steak is medium well done, they eat what little food they can find.