The elephant in the room: make it too hard to employ talented foreigners, and sooner or later companies will just open up offices there, rather than here. Remote work has only made this easier. I want smart, hard working, talented people coming to the US, myself.
I want American businesses to look towards cultivating local talent first. I don't disagree with the desire to have "smart, hard working, talented people coming to the US" but from my experience big companies use H1B's as a means of getting cheaper labor and having more power/leverage over the individual.
I've worked at and interviewed people at FAANGs for the past 5 years and the bar for hiring is the same.