That's true. In fact, the title of this thread is very misleading and should be changed to "Really that good for bad engineers?"

The engineering profession has a socialist remuneration structure based on Karl Marx's "From each according to his ability, to each according to his need.", similar to teaching and taxi driving.

For people who are not worldly wise and could not survive in the more competitive professions, engineering provides a safe haven which ensures a minimum wage for even the most incompetent.

The downside of this is that, like in a Marxist state, an outstanding engineer's annual income will never go above the low six-figures, no matter how good he is, and has to switch to other professions which will give him his due rewards.

In other words, the good engineers subsidise the bad engineers. Yet the bad engineers are not thankful and think that they can become investment bankers.