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Sure, in theory. But they're not pulling people over here for a year or two. They're getting them over here for several years, and every year they keep them on is another $50k saved.
But on the other end, you have small businesses who need specialized labor that's not available in the US. Or family businesses who want to bring other family members from out of the country and hire them to work for their little mom-and-pop shop, to further help bring their family out of poverty. Neither were likely to hire anyone local to do the job, and the $100k might be everything the business earns in a year after expenses.
So the $100k fee does nothing to curb the onshoring of cheap labor by big companies who are causing the problem you want to solve, but it completely kills the ability of people in developing nations or people here who are trying to do right by their community to hire anyone who doesn't already have the right to work in the US.
I just realized I didn't address the three year limit. Sure, they're only saving $50k over the term of the visa now. But they're gambling that the visa situation will be more favorable in three years, or that the job market will be in such shambles that they can afford to cut pay across the board, or replace people with AI, or whatever. It doesn't just save them $50k, it lets them defer that cost for three years, which is three years that money can be earning interest for them. Plus, if they write it down as compliance or governmental fees or whatever, I believe there are beneficial tax implications.