Earlier quoted context omitted.
If they can actually deliver 10x more work: well, that's how economic progress looks like.
They cannot... And economic progress for the companies. What these engineers who stay get is just a burnout and a pat on the back. I've seen it, and felt it, many times way before all this slop-coding started
Compare and contrast https://pseudoerasmus.com/2017/10/02/ijd/