The very fact that we're talking about remote work undercuts the comparison to deindustrialization. When a factory closed in a U.S. town and a new one opened in China, those displaced workers had no option to compete for those jobs at the new factory. They were lucky if they could compete for
any related jobs without moving across the country. To work in a factory you simply have to live next to the factory; there's no way around that.
Whereas in software, the very mechanism that opens the job market to people in other countries ensures that it stays open for people in the U.S. We're not going to see a gutting, we're going to see a balancing. The door won't be shut on the way out. If cost of living makes it hard for U.S. workers to compete, it will probably also come down quite a bit, seeing as tech workers have been one of the huge drivers of its recent increase in the first place.