Asians are 7% of the US population and above 30% of the engineering workforce at most tech companies. So either Asians are just extremely genetically/culturally superior somehow (which seems unlikely given the state of the software industry in most of their countries) or something is going on.
Oddly, over a 25 year period, I worked with far fewer Asians than I did Indians. India has to be the #1 supplier of H1Bs to the US, hands down. I'm not sure I can assess how the average Asian software developer did compared to Indian ones since the sample size was so skewed for me. Maybe on the coasts it was different? I look at Japan as a nation that has its crap together, but they also have terrible work/life balance that has now led to massive depopulation. It's like every race has its own particular blind spots.
> something is going on
Many things could be going on. You should propose a concrete explanation instead of some vague "something is going on" placeholder which could uncharitably be described as dog-whistling.
For example, consider that leaving one's country is difficult and, so, the distribution is skewed towards individuals with higher skill and talent.
I'm not saying that is the only effect at play here. My point is there are many effects and a lazy "something is going on" statement does nothing to understand that complexity.