This is basically what I see all the time. The listings all want experts in some stupidly named tech less than ten years old. Hadoop, Mongo, Tomcat, Pullwilly, Crankyank, GULP, GRUNT, and, god, still PHP. Also HTML5, which hasn't even been settled yet. They want all of that plus knowledge of ninety acronyms which don't really mean anything (RESTful). And there's absolutely NO ROOM for anyone to come in and pick things up as they go along. Every interviewer wants someone who can hit the ground running. Twenty years of experience on the web and a CS degree count for nothing if you're not an expert backwards and forwards in obscure minutia of SQL syntax, all tested using an online quiz designed to break your brain.
Not to mention that the last job offer I got was for less money (accounting for inflation) than I got two years out of college twenty years ago, and in Manhattan to boot. After commuting I'd probably have lost money.