That's mostly just a racist trope.
I worked for a company that was bought by a major Indian offshoring firm. They promised not to swap Americans for H1Bs. Three months after they took over they had given every American employee notice that if they didn't spend the next 90 days training their replacements, they'd miss out on the severance pay they'd need because they were being shitcanned. Within a year 97% of the white folks in the company were gone and replaced with Indians on H1B visas. They had about 3000 employees. This is the second company I've worked for that has done this and I'm not counting IBM, which is now just an H1B body shop, also.
Don't get me wrong I'm not angry at some Indian guy taking a better job. I'm disappointed that he cannot compete with me on level ground. He's got to be an indentured servant the company can threaten and intimidate into taking lower pay (or else he gets booted back to India). If they could negotiate their pay normally, they'd have to compete on quality. As it stands, the H1B program empowers the rich and harm the citizens (AND the immigrants).
"I have more information in one place than anybody in the world." -- Jerry Pournelle, an absurd notion, apparently about the BIX BBS