We've only been doing mass WFH for a year. Many companies have been saying things very similar to Coinbase, but I'm not sure if long-term mass WFH will prove to that great (for the company, I'd argue it certainly won't be great for the average worker).
One thing the average worker should watch out for is companies who perform geographically adjustment pay scales. Some WFH companies now even list that as a benefit that they do not do these type of adjustments. I'm not sure what the best answer is to that but feel many are using it as an excuse to pay workers less.
2 devs with the same abilities will have different willingness to work in a situation because of their cost base.
Essentially, one gets more because they are demanding more and that demand is based on a kind of very hard negotiating legitimacy, and the company, on the other side of the table knows that and knows they have to concede if they want the table.
I don't think the cost of living shifts are quite that much however, they are generally not a true reflection of the change in cost of living, just a minor adjustment.