Bangladeshis don't have perfect English communication skills or work 24/7, and the most skilled engineers there have generally already moved overseas, so the only remaining ones aren't top-tier (or aren't cheap).
On the other hand you can go from concept to finished product with a bangladeshi team today. And you can’t do that with copilot. So why the risk for western devs when you can already get close enough to their quality of work for a fraction of the price, yet they still exist? Clearly there are other factors involved beyond raw cost to explain this.