Given the nature of the Etsy market after going public I don't see how a "1st World" crafter can compete. Our supplies cost more, our time costs more, our materials, well, often cost more. How does a $20 an hour economy compete with a $.50 economy? I am all for lifting the boats of those $.50 folks, and the honestly hand made products of those crafts/artist folks is often so remarkable, but so is mine, and I can't market a hand made wooden bowl made of some of the world's finest burl-wood for the $36 median price Etsy reccommends.
In 2018 I made over $17,000 on Etsy. To date this year I'm at $5,622. I made my last sale in August, when I sold a $1,000 bowl. Go figure! Somethings not right here, and I don't think it is me.