Yeah, its a trap generally. In theory your dating matches are limitless, in reality they are much more constrained. This is how the dating atmosphere in NYC generally works, a ton of people with too many mediocre options.
* bottom 80% of the men all compete for 20% of the women who actually respond to them
* the other 80% of the women only respond to the top 20% of the men
Women by in large had an average at 6/10. Men had an average around 2.5/10.
The job market is a bit like this - a lot of job opennings and a lot of applicants.
If all of the jobs you are qualified for are beneath you, then you need to fix your head. And if you want stability, but the only jobs that pay what you deserve are short terms contracts, then you need to consider your priorities.
We tell people not to settle, because getting deeply emotionally involved with someone unsuitable ends painfully. As does trying a committed relationship and realizing that you could do better.
But 'settling' for someone as attractive, clever, funny and sane as you are is not settling.