That would sound a lot like the languishing native STEM talent in the US if it weren't also for the fact that most of the DeepSeek team doesn't have PhDs.
The lack of a PhD probably has more to do with the structure of Chinese education but these people were basically studying like PHDs.
https://www.firstpost.com/explainers/china-deepseek-ai-full-...
China has a reputation for being a "paper mill" place though, so not sure that publishing papers has any value whatsoever as a quality indicator.
Only those tech talents in the USA who are useful for some big tech agenda are not languishing.
https://www.bloomberg.com/graphics/2023-black-lives-matter-e...
Job growth amongst foreign born residents in the US has significantly outpaced native born job growth:
https://www.bls.gov/opub/ted/2023/foreign-born-workers-were-...