I think the tide has turned long ago, if there ever was one the other way to begin with. I was doing that and more 7 years ago. As I always say in these kind of threads, low bidders do not matter, they are fluff, an annoyance to the buyer. Try posting a project on one of these sites and you will see. Communication and ability to sell is all that matters, other bidders, especially low bidders - not so much.
But I think most freelancers get turned off all too quickly by low bids and don't place their own bid at all, or place a generic one with no expectations and get no jobs - rightfully so. If only more serious freelancers took more time to craft their offer - that's what would bring the real competition up.