H1-B visas might be acceptable if the visa holders were allowed to switch employers with the initial company paying all the fees.
That would change the equation used - much more risk to bring in somebody that can jump ship for a better offer (as any American can) rather than an indentured servant.
The other issue is that these guys get their degrees for free (or damned close to it) in their home countries, while their American counterparts are on the hook for 30K+ in student debt.
You hit the nail on the head. I is a constant source of amazement to me that the conversation about H1’s never raises your point. If the foreign workers could compete there would be less wage depression and a level field to hire from.