You're not entirely wrong, but you're more wrong than right. For example, yes, a good paying SV job involves spending a lot on rent, but nowhere near "most of it"...very much the opposite. Yes there are issues, but it's not "how big of a scam", and by describing it that way you lose credibility.
Maybe now corona it is better, but a few years landlords could choose from several applicants. 12k was realistic asking price for foreigner with no credit history without waiting.
