For my self, I was making over 300k, took a job (remote) at a little over 200, and now struggling to get that much and considering jobs at 170-180. I think the job market sucks, those jobs paying 300+ would normally respond to me aren't.
Elsewhere in the US in smaller towns, I could see it being much more feasible.
If you're looking at 200k/yr roles in SF that are in person and looking closer to 996 than not - plenty seem to be hiring and trying to recruit. Downside? You have to be in SF 6 days/week and it's shit pay for the region. (You will likely have to do roommates because $200k/yr is borderline for a decent apartment in SF now due to 20% yoy price hikes)
As you move up in comp, the market actually gets more difficult, not just because the market is more competitive but because some companies won’t even interview qualified engineers with FAANG on their resume because they don’t believe they can afford them.
So I can understand why you might have an easier time compared to other engs.
I am currently employed, remote but not in IT. I have been applying for various jobs the last 6 months because there isn't much growth left for me at my current company. I am a really strong candidate for what I am applying for. If I apply to a local company, I get contacted almost immediately. If I apply for a remote job it is crickets.
I think for remote, you are going to have to be recruited or have a strong network tie because that is the only way to filter the volume of applications. Cold applying is just a waste of your time and energy.