The 5 or 10 years experience they might have is pretty thin unless they have had extremely good mentoring. It takes more than a senior project and a few years as a junior dev to be worth much. I consider junior devs incubation projects. Some of them turn out nicely.

But many people think they're worth that. I don't think there is an intrinsic "worth" for each developer, demand is high, supply is low, that's why salaries are high.

Well, I believe that as humans they are worth enough to eat, live, and enjoy life, at the very least, but from a surviving-in-capitalism perspective they can't pull their weight for a while in most cases. I'm not arguing against hiring and paying juniors a living wage, just noting that it takes a while and some diverse experience to get most of them over the hump, so to speak.

Compared to people who do useful stuff. Like you know, teachers, healthcare workers, etc.

Its beyond that now, they're often paid more than doctors, lawyers, pilots, managers, traders, professors, just about everyone.