We're missing any kind of definition for "a decent life" (or indeed "grinding" for that matter).
I live in an region where the population density is at least 50 times less than that of greater London. We have few Michelin-starred restaurants, a distinct lack of opera houses, and no top-ranked universities. I'm not bothered in the slightest.
Living in London (or NYC, or the Bay Area) is, just like so many other things in life, a choice.
Underpaid compared to what? To what they might earn elsewhere? To the cost of buying a house or flat?