For a company that can fully exist in eastern Europe I think this is a highly competitive model. If you can develop and sell SaaS without a U.S. presence whatsoever it changes the economics an order of magnitude exactly as you say.
To the same extent these types of companies succeed the H1B program also becomes less relevant. To your point, coming to the US would be self-defeating since it would change the entire economics of the situation.
I think there are still very large barriers to entry; many industries where you still can't close sales fully remotely and personal networks / connections you miss out when selling to a foreign country. And in case of TFA I think it implies this is finding a US startup so your points are valid and important but perhaps OT.
To the same extent these types of companies succeed the H1B program also becomes less relevant. To your point, coming to the US would be self-defeating since it would change the entire economics of the situation.
I think there are still very large barriers to entry; many industries where you still can't close sales fully remotely and personal networks / connections you miss out when selling to a foreign country. And in case of TFA I think it implies this is finding a US startup so your points are valid and important but perhaps OT.