For low houred guys: excess most definitely. Always will be until the job doesn't sound glamorous anymore.
You might hear of people on these forums saying about pre 9/11 that it was the time of opportunity, where milk and honey were in abundance. Don't believe a word of it, it was hard back then for low houred pilots, and it will continue to be.
There does seem to be more opportunity for experienced guys from the right type of background.