Running a design agency for over a decade, I've seen the price of logo proposals drop from €5K to about €1K. To most people, a logo is just something they want to use on their social channels and their website.

I don't think that's wrong. There's still room for an elaborate creative process of designing a company brand. But that's more for the bigger companies. The freelancers, startups and side-project hustlers usually just require "something nice".

Realizing all this, I recently launched an automatic logo generator: https://mybrandnewlogo.com

I think it strikes a nice balance between "something nice" and an affordable price. Not every logo is good, but tweak or generate it long enough and you quickly have something that looks good and is very affordable.

For $5, it's almost impossible to deliver something of quality. Even running a logo creator, you still have fees for using an icon library, hosting, etc.