that would be nice, but unfortunately I think the supply vs demand situation is quite different this time

Yeah, every COBOL job paid pretty terrible relative to other types of work (like web dev).

Sure there might be a dozen individuals making over $300k but most COBOL devs live in the deep south making less than $100k for their entire careers. Fine salary, but that line of work is severely limited and the salaries do not reflect how valuable that work is.