Not quite. A lot of businesses hire entry level people in order to train them the way they want.
I work in an industry that regularly hires people at entry level because many of the positions have skills that are not taught anywhere except on the job.
What one must realize is that the bottom rung often still requires some education and demonstration of professionalism.
No, not really. There is always a “bottom rung” in the job market.
The issue is that it changes according to a zillion factors. So what was the bottom rung five years ago may have morphed into something entirely different.