Still PM job supply demand is way too skewed

Hi peeps, I am a CSE engineer + MBA from tier 1 institute and have total workex of 6.5 years out of which 3.3 years are in PM role in early phase startups .I got recently laid off and trying hard to get a job from last 1 month but I am not getting interview calls . Is it happening with other people too or am I lacking something ?

I have been working as an APM at a series C startup for the last 1 year. I did my MBA from a tier 1 college. Worked as a full stack developer for 2 years before that. Am I underpaid? What would be a fair market compensation. Should I try getting another PM job in a different company or switch back to being a dev. ( Not liking PM that much, the dev role was a better experience.)

Recently my company posted an opening for a PM job (5+yoe) on LinkedIn and i got final year engineering students from Tier 1/2/3 institutions in my DM asking for a referral for the job. I was like wtf at least first get 2-3 year of any corporate experience and then think about moving to PM role. Why are freshers preparing for PM job out of a sudden

I have been talking to two of my seniors 1 from ISB and 1 from IIM. Two different individuals from different companies.. Both are out of job for more than 4 months now. They are not getting any calls from more than a month and the ones that interview was given and went till last satge are now ghosting.. so just want to understand how's the market currently.. My company is also under financial stress and that's causing me panic..

Hardly getting any calls for PM roles. Is the market really cold? Or AI rejections are taking over potential interview callbacks?? I see a 10/10 match with my profile for a JD but eventually get rejection mail even for screening/shortlisting, I suspect AI rejection is taking over. Appreciate Any thoughts and tips in such frustrating times.

I have been applying on various job portals - LinkedIn, Naukri, Instahyre. But not getting any shortlists. Asking for a referral feels like a transaction because the other person does not know me. What other strategies have worked for you?

I feel there is no light for this tunnel for many more months to come. 11150+ Applications for 1 Post. Can't imagine the level of competition.

I have seen some companies post about them looking to hire a lot of people and ask people to reach out to them over DM (if their DM is even open in the first place lol), but when I do, I never hear anything back. I have 4 yoe and have applied to so many of these companies, reached out to people working there, but no one has ever replied back. Why do they even say that their DMs are open in the first place? I don't know how to even get my resume in front of an actual person working there, and my resume is not even that bad. Like how do people get interviews in these companies in the first place? I have applied so many times but never actually got contacted by any HR. Any tips will be much appreciated.