Well, sure, but what's your point? Do you think they put the exemption there for companies to differentiate themselves with their altruistic overtime policy?
Another thing to note is that many computer professionals make above the old max, *and* the new max -- but as was mentioned above these rates are ridiculously low, near minimum wage. So again, why the exemption?
Previously, computer professionals had been considered exempt under section 13(a)(1), along with the exemption for executives, administrators, and professionals, but under Section 13(a)(17) a specific exemption was provided for any “computer systems analyst, computer programmer, software engineer, or other similarly skilled worker”
(from the same site I linked to).
To me it's strange they call-out computer professionals explicitly, and that they added it in 1996 when programmers were really starting to cost money for companies.
But you have to wonder about all the other exemption stuff too. There are also "learned professionals" and "creative professionals" exemptions. They might as well said "anyone that could cost big business a lot of money".
The "reasoning" behind the act is described as making it so that the FLSA would not apply to anyone who is capable of "exercising judgment" in their job. Because ostensibly, these people can negotiate for themselves. Have you found that to be the case with young/low level "professionals"? I know I haven't. I have seen lots of companies try to work the 20-something crowd 50-70hrs a week.
Also, at a time when states are passing laws against collective bargaining, it seems there are few places for these workers to turn. These rates need to be higher, and pegged to cost of living based on location. As it stands almost no one who works in SF or NYC would qualify.