Not better, but more aligned with reality, where global organizations are learning that when we're all remote, the output of a $75k employee outside the US is 'good enough' compared to the output of a $140k employee in the US.
Pay based on location is idiotic, if your pool is the entire world then your pay scale should reflect that market and average out. This means developers outside America get more purchasing power than San Fran devs, but that's the market you've entered.
It is simply artificial price fixing to pay based off location.
Sometimes there are reasons why the world acts like it does.
When you disagree with the world, sometimes it is because of your own naïveté: maybe open your mind a bit more? Your comment doesn’t reflect well upon you IMHO.