Earlier quoted context omitted.
I agree with you, but only people who want to make big buck should move to the Bay Area. As you concluded later, money is not everything. I am young and about to finish school, but I am moving away from the Bay Area and even move to a different country. I do not care about the high salaries here, as I just do not like the lifestyle here. So, I'd say that the Bay Area is for people who do not mind having to work 24/7…
My experience doesn't line up with your preconceived notions of the Bay Area at all. I've worked at three different jobs in San Francisco, and all of them were standard 9-5 jobs. I've worked weekends under 5 times. Most of my friends are in the same situation. Sure if you want to work at an early stage startup, you can grind yourself into a paste. But there are plenty of jobs here where that's not the case.
The insane commutes, the work culture, the high rent / COL, the culture of trying to look as rich/smart/successful as possible, the sue happy people, the fact that there's absolutely nothing else to do other than work, etc really wore down on me.
I lived in the south bay though... admittedly it seemed slightly better in SF. Less money grobbing and more hipsters. But it looks like all that is going out the window very quickly. The south bay culture is spreading like a cancer.