I think it might slowly going to be the new normal even post ZIRP. I say this because lots of the companies that employed software engineers were internet related businesses or their dependent and descendent businesses (think various SaaS tools) and now that market has its winners and takers almost established, there's also the market saturation.

Nobody is building new Facebook, Google and such and even if someone is, they're less likely to gain those scales.

Revocation of ZIRP has trimmed the industry of any excess and inefficiencies, mostly.