Are people really ready to work for low salary for high skills?
I have 4+ years of experience having good skills that exceed any average programmer. But I am working at a low wage of 42k a month in hand compared to my skillset. I would happily join an entry level job if it pays better.
What does this mean for the freshers, job switchers/career switchers?
You are not fighting against skills, you are fighting against masses. There are a lot of people and there are very few jobs to give everyone an opportunity. Going through hundreds and thousands of applications is costly time and moneywise. So companies reject people like me based on a degree requirement using ATS and manual filtration.
Are we (freshers) all doomed for now?
No. if you have a degree, you are ahead of me already. It is me who is doomed because I can't compete with the masses and I cant get into senior jobs (because of lack of experience in a good company).
What's your (my) take on the market?
There are lots of opportunities but it is also very very competitive everywhere. So you need to differentiate yourself. You should have all the things most people have plus something extra to get ahead.