After a long drought I've seen more recruiter emails recently but I do think the days of 500k-1M TC are dwindling. Big Tech seems to be moving a lot of positions to LCOL areas and I don't see that abating.
In the midst of a gold rush, sell shovels and maps
In the less glib way, I'll draw attention to the fact that machine learning roles are only one moving part of the machinery required to manage, operate, train, evaluate, demo, and integrate AI adjacent opportunities. That's to say one need not be a pytorch or differential equation ninja to contribute meaningful to riding the hype train