> they'd discover they needed to offer you salaries in the $350-400k range?

No, such a discovery wouldn't be possible, because nobody would pay that amount to someone who was willing to accept $200K.

> They're locked in an auction and the market price for your time is nowhere near $200k.

There is no magical market price that exists outside the market dynamics. When bidders know that one's current salary is $150K, their willingness to offer higher salaries will diminish accordingly.