>you think any rational actor in this space that was hiring H1Bs isn't going to simply relocate them to more friendly jurisdictions for immigration?

This was true before and after today.

Put another way, if all the H-1B jobs really can be offshored quickly and easily the way so many Indians and anti-Trump people here and elsewhere confidently predict, *that would have happened already*.

I'd argue that it doesn't happen more because it's (relatively) easy to bring labor onshore.

But yes, if that path doesn't exist, I don't think that global companies are going to start hiring American, they're going to continue hiring globally but take the path of least resistance towards bringing this talent onboard.