kinda ******** pay for a "job" that's not even minimum wage at 40 hours a week, 52 weeks a year (no taxes, bonuses, benefits)
Most likely the developers have a 2nd job and treat this as a hobby, but is that really a job?
Except almost no developers make your fictitious average. Some make a lot more (way over $100/hr in consulting fees). Most make a lot less (but still a bit more than zero).