I hear this a lot on HN, and while I understand how it would work at bank or at IBM, how does this attitude translate into startups, founded by technical people, competing to hire "rock-star" "ninja" developers?
The language around perceived high-ability developers is important -- "rock stars" are admired. "Ninja" are feared. Neither are respected by the people who actually have money and power -- producers, daimyo, investors, management. Even "guru" implies asceticism and a willingness to provide expertise without appropriate compensation, and more importantly all three of these terms imply an independence from existing power structures that means they cannot move or advance within those structures.
I have watched very competent developers trade social status of titles and public admiration for remuneration. Your comment is uncomfortably close to truth.