I have mixed feelings about an impending Flight to Substance.
It's a good thing overall, but it can be bad for talented generalists. If there's enough demand for smart people that science and "real technology" companies will train talented generalists up into the specialties they need, then it's good. On the other hand, genuine research and technology have been so under-funded that the culture has become parochial and unreasonably elitist (against talented generalists). I deal with a ton of PhD bigotry in machine learning. (I don't have a PhD, but I read papers and I'm more current and, almost certainly, more effective than someone who stopped reading papers 5 years ago.)
For example, there used to be BA-level science jobs. There still are-- but they're filled by PhDs. Real science has been under-invested for years and we're paying a price because a lot of our brightest people don't have any experience with real work, because they can't get jobs on projects that actually matter.
In the 1970s to '90s, Silicon Valley wasn't pedigree-obsessed and talented generalists could "just fucking build it" without having to acquire permissions and credentials. What happened later, unfortunately, is that smooth-talkers moved in, outcompeted us on social polish, and are now raising huge sums of venture capital on lame "social media" ideas and build-to-flip bullshit. Right now, the genuinely talented generalist engineer loses in both theatres. He can't get a proper role in the Substance world (real science and technology) because he's not a PhD with at least one paper per year since graduation, but he can't get a proper role in the generalist's promised land of Silicon Valley because the smooth-talking douchebags with lame ideas have taken it over. Between "ultra-hard" science that requires either 5+ year job tenures (to make it worth it for employers to train people up) or advanced degrees, and that typically involves a decade between innovation and profit; and the "easy" social media stuff that any idiot can do (scaling such services is genuinely hard, but tech talent can be back-filled later) there is a "moderately hard" space that is under-explored.