The same data you use to say that programmers are overpaid could be seen as an indication that professional-level software development is more difficult than you think and warrants the higher salaries. Programming is one of those things that almost anyone can do, but relatively few can do well.

Either way, if there were people who could do it better or cheaper they would be.

Edit: In the interest of full disclosure, my view may be slanted because I am a developer. On the other hand, that means I’ve seen the subject from the inside.