Has Fiverr changed?

[daxwriter]

I became member after getting recommendation from a level 2 writer, who’d moved on to more lucrative assignments 6 months ago. He told me it’s not that difficult to get gigs. Well… as far as I can see, either he lied to me or too many sellers have become members since his departure. I mean, the way people are jostling to do gigs which wouldn’t even cover the cost price, is beyond my comprehension. So will some senior here clarify:

Is the balance has tilted too much in favour of buyers because of too many sellers? Or is it because people or so desperate for gigs that they would do them for peanuts?

Thanks