Yes and no.
The freelance writing business is in both a boom and a bust. It’s in a boom because the bottomless mouth of the Internet means a lot of work out there wanting to get done – a joyous prospect for the impecunious freelancer. It’s in a bust because the wages offered for this work are pretty low. (And even with the very low rates, there are complaints of high costs by Web content buyers.) Overseas competition has put a downward pressure on domestic wages.
On the other hand, the volumes available mean that the writer who can generate content quickly and competently in volume now has a major advantage over the finicky artist. (Even more of an advantage than they used to have.) Increasingly, it’s possible to make a decent living by just working hard at a keyboard. So while per-word rates might be lower, per-week paychecks go up. Some writers would rather work 50 hours and make $500 than work 10 hours and make $200. So the content boom is good for the production writers.
The artists, of course, suffer, but they enjoy that, so it’s all right.