I don't have an opinion on the topic one way or the other, but I get mighty riled up when I read breathtakingly inaccurate headlines.
- [event] A policy change has taken place and the legal residency status of the children of tech workers in the U.S.A. has been altered
- [fact] Many children of tech workers lose their legal residency status in the U.S.A.
While your point about "Brain drain" is true I am not going to tell anyone that they need to toil their life away in a third world country to improve it. Choosing whether to do that or use their skills to escape to a better place is a very personal decision.
When you say "toil their life away in a thirld world country", what are you picturing in your head exactly? Brown people in rags, chained to old 286's and programming away at the crack of a whip? Why do you think working as a software engineer in their home country means toiling their life away any more than in the U.S.?
While it's true that some H1B holderss are from thirld world countries, the majority are from developed countries with the best universities and educational institutes in the world, having received an education second to none and every opportunity to excell -- that is the very reason the U.S. wants them.
Give yourself a reality check.