Woof!! You nailed that one, outta da' park.
Engineering simply isn't worth the hassle, there is no job security, there is no long term incentive. As you indicated, you either become a top-hitter in your profession; or you are laid off in favor of hiring 2 H1-B engineers. Once you make it to the top-hitter position; you will be beat up daily, just to make sure that you remain consistently worth more than 2 H1B's. It's simply not worth it; and I'm in the lower 6-figures. If I had the same time/talent and applied it to just about any other field; I'd be working fewer hours, far less stress, and earning double what I am now.
Then either change fields and prove it, and make yourself much happier, or quit your whining!