Yeah, but net worth is weird because for most people, it just measures age. When you're young, you have nothing in your 401k and you have a brand new mortgage, so you're worth around $0. Negative if you have any student loans.
When you're in your 50s or 60s, the mortgage is repaid, and if nothing blew up, you probably also have a million or two in your 401k, so at that point, it's actually not that hard for a person who had a decent career in the SF Bay Area to be worth $4M+. And many FAANG retirees will probably flirt with $10M+ if they don't spend too much.
Entry-level total comp for SWEs in the SF Bay Area is probably $250k. A senior dev at a public tech company can easily clear $400k. Really senior engineers at FAANG routinely clear $1M.
For senior engineers with some fiscal discipline, it's great, although it's more great to work remotely.
On the more junior end, that $250k goes about as far as $100k in a less expensive region. Keep in mind that the average 1-bedroom rent is $3k+/mo, the average home for a family with kids is $2M, the average PG&E bill for a house is probably $400+, any repairs or remodels will cost you 2x as much as in most other places... and state income taxes are 10% on top of federal.
Most CoL estimates put the cost of living in San Jose at 2x the national average. And that's San Jose.
You're in the top 10% in the US if you make $170k/yr.