For sure h1b situation is far below perfect and prone to abuses by consultancies. Back when i got my h1b they used to run out of 60000 application limit meant for entire year, in only 2 or 3 days because the indian companies would apply in mass of thousands of application on the very first day the application period. And of course there is this epic of faking resumes.
But still who in right mind will pay 130k to a foreigner just coming out of college?