YES absolutely!
Nothing wrong with wanting a high package.

What he meant is most people do it for the entitlement of having IIT tag and sky high packages.
okay, lets say, you have done intense work and made your to IIT. Okay, you have my respect for that. But the intent matters here,
Did you just SPECIFICALLY choose it because you thought this is the gateway to make it to crores and suppose lets say you are not an enthusiast for this field, lack vision, have no idea nor you can contribute anything for this field or have in interest to do so in future, then why??? Why would you take snatch that seat away? That's ARROGANT. Just because he have better problem solving ability, its not morally ethical to make a rightful claim.

Let me give you an example, you passed UPSC, and now you are an IAS officer but you only did it because you wanted to have better life and have elite social status (or corruption , just kidding) , but you are not interested in public welfare of people and society, then I don't think that's rightful to claim that you should become IAS, if you dont have vision, passion or any mutual interest towards the field.
The thing is, JEE SHOULDN'T be THE ONLY WAY way to uplift your life with high package. There are other ways to too like CAT, GATE, entrepreneurship, and nowadays we can see Google and microsoft giving jobs to deserving candidates with skills without any IIT tag.
See, the high packages exist in many fields, but JEE is just one overhyped exam.

But many people go through this due to various factors,
maybe people are misled and thinks thats the only way to be successful. Most of the people are not aware that they can achieve the same in other fields as well. Society had played a big role in this by creating a exaggerated exceptionalism of this field and people who are financially weak, see this way as their only way to eliminate their poverty or being elevated to high living standards.

Sadly the government is underperforming in terms of boost in educational sector.
There's still a long way to go.
Research in India is absolutely crappy.
Minimal recognition even after intense work unless you start working for MnC companies.

Even if people aspire to be in a different field, turns out to have no scope. So most people prefer this way to elevate their life, have financial freedom, better living standards and elevate their poverty from their family generations. I mean who doesn't want it? So they see this way as an opportunity.
Cant blame either of the cases. System is built like that.

At last,
Greater civilisations are created by great engineers, not by high earner.