As a technical cofounder, and someone who hires developers... I really don't think so. The demand for great technical talent is so high that I seriously doubt there will be enough of a drop for this to make a difference at the top tier--where you'd want to pick up a technical cofounder. If you would be a good technical cofounder, you can almost certainly get a job paying at least $300K/year in the Bay Area today. Even if that drops to $200K (highly unlikly in my opinion), it's unlikely that a technical cofounder of a seed-stage startup would get more than $150K/year (and often it's more like $75-100K, because otherwise you'll have a hard time getting that seed investment). So you're not going to be able to come close to competing on salary.
And now think about all of the other options that are available out there in companies that are growing quickly that haven't had a major exit... how are you going to compete with Slack and AirBnb, for example? The likelihood is that your startup is going to fail. Those won't, so the question is just what the equity in them will be worth. You can offer some more freedom and autonomy, but your benefits will be much worse, and the uncertainty is painful.
I would anticipate that the demand for technical talent will outstrip supply significantly for at least the next 10 years.