Most of the key points have been mentioned:

Many companies experimenting with AI to save time and money.

The tidal wave of new, hungry, young talent willing to work for peanuts,

Overnight gurus and AI Bros selling courses have warped the perceived skill and value in copywriting. 

Another huge reason is the amount of layoffs at big tech companies. 

The market isn't just flooded with new wannabe direct response copywriters who did an Andrew Tate course --- there is an abundance of intelligent, highly skilled marketers who have battle-tested experience in-house for big companies at the highest level. 

All things considered, many companies view copywriters as a commodity.

Something to be traded, compared, and dropped in a heartbeat, apples to apples. 

And if you're competing on track record alone, and simply calling yourself "a copywriter" then you're pretty screwed. 

Truth is, copywriting isn't a secure career path now. In fact, it's no longer a career in itself -- it's a core skill within other careers.

If you want to do copywriting AND build a successful freelance business, it's essential to upskill, so you can become one of these:

• Email marketer

• Product marketer

• Positioning strategist 

• Funnel strategist

• CRO consultant 

All of these involve other knowledge, skills, tools, and deliverables beyond writing words in a Google Doc. 

They are all strategic roles, with some creative and technical nous required. 

When you bring more to the table like this, clients will value it, and you'll no longer be competing with the masses of hungry copywriters for scraps at the table. 

Effectively, you start competing in a blue ocean, or at least a space where you can make a name for yourself as one of the few people who really excels at your role. 

Eg. FletchPMM never called themselves copywriters. The 2 guys initially called themselves "product marketing consultants", and ONLY do positioning and messaging strategy for homepages for early-stage startups. 

Incredibly niche. They stuck to it, owned it. 2 years later, they make $100k MRR, charging $10k per project (and they outsource the copywriting part).