As always, we're facing a nonlinear system and it's unpredictable whether this will be good or bad.
Less money for bullshit is good if it means more money for substance, but it could also mean a decrease in engineer salaries, which means a future decline in power for those who are more fit to have it.
Sure, that's definitely fair. It seems to me though that developer salaries haven't risen nearly as sharply as demand. Add to that the actual effects of the entre-boom with regard to the average developer's wealth and it starts to look like a lot more people are working a lot harder, for a lot less.
My gut is that maximizing the actual-value creation per-developer is something to strive for, and ought to be good for everyone involved.
Not sure how to measure developer demand, but as a "valley-insider" I regularly observe directly engineers being paid about 40% more today than they were in 2008. Also, I recently heard of a mobile developer getting a base salary of 900k, but that's hearsay so who knows..
In any case developer salaries have risen very sharply in my experience.
Less money for bullshit is good if it means more money for substance, but it could also mean a decrease in engineer salaries, which means a future decline in power for those who are more fit to have it.