Certainly, there are low end aspects to each. The unfortunate truth for many IT pros is that their profession has been commodified. Yes, we can go back and forth over quality of work issues, but the market will sort that out. But if a company can pay some Indian $4k/year to do what an American will only do for $50k, you'll see outsourcing.
I think sometimes we look at IT as the industry for employment that is the most essential (and cutting edge) as we move forward. But that may not be the case. As IT builds on itself, we may see a wholesale decrease in demand for actual breathing human beings in that industry.
Remember, information technology is responsible for massive job elimination because of the gains in efficiency and productivity it allows. Who's to say it won't actually do the same to itself?