That is true and in the end the Chief-Executive-Intern-Junior-Fullstack-Developer from hungary/poland/croatia/romania will do it for the german consulting company bc in-house german developers are too expensive.
Perhaps you're comparing _good_ engineers. That's not who we're talking about here :)
There's tens of thousands of fresh IT graduates working 2.5k EUR/mo jobs (or less) - and you can replace any engineer with a finite amount of these guys.
I was definitely getting less than that in my first year in the UK. That was because of being scammed by a bootcamp tho haha. In my second year I make moderately more than that