As soon as FAANG starts hiring people in Utah, Arkansas and Minnesota for the same roles at the same wages as they hire in the Bay, then people will move. As soon as VCs start funding founders in Boise, Kansas City and Chattanooga, then people will move.

Until then, maybe we work to improve the places where most of us are required to live by our jobs. (And yes, in parallel we can work to reduce the employer-mandated dependence on those areas).