I agree with you, in ways, but I think that software pay and legal pay aren't quite the same.
Traditionally, in the US, the law professions have restricted the entry of new lawyers into the market. This has artificially inflated prices for lawyers. They do this by folding in layers of complexity into the law, by imposing greater restrictions on the practice of law, and by imposing huge costs on participation.
Also, since in the US, most legislators are also lawyers, they have innate incentive to add more and more complexity and requirements into the law. More complexity and requirements increases the demand for lawyers.
Traditionally, in the US, the law professions have restricted the entry of new lawyers into the market. This has artificially inflated prices for lawyers. They do this by folding in layers of complexity into the law, by imposing greater restrictions on the practice of law, and by imposing huge costs on participation.
Also, since in the US, most legislators are also lawyers, they have innate incentive to add more and more complexity and requirements into the law. More complexity and requirements increases the demand for lawyers.