That's ~6% of the 9M. Not nothing but not a glaring amount. I'm seeing that there are 1.7M total SWEs in the US, which would bring the H1B % to 30%, assuming all are SWEs. This would make it a significant amount, not sure if it's enough to suppress wages / pass on US persons if they attempted it.
One look at the top H1B employers should stop this narrative however, because those companies do not pay near peanuts.
https://www.uscis.gov/tools/reports-and-studies/h-1b-employe...