I think that's exactly what we're seeing. Software engineers at the big-name companies are exceptionally well off; even low-tier hires are generally above national median of income. In that environment, the most significant thing keeping a lot of people at the job is pretty high up the Maslow Hierarchy, closer to self-actualization.

And if an employee can't shake the feeling that they're helping to repeat IBM's mistakes in the '30s and '40s, they'll walk. Company doesn't even need to fire them.

(This suggests one could possibly use "employee churn at major software companies" as a secondary indicator to societal upheaval).