Low barriers make it easy to switch careers and give the underprivileged easier entry. It can certainly mean prices wars, as you indicated, for commodities, but that doesnt extend to items, services, experiences, etc that are not commoditized.
For everything you see as being bad, I could probably counter with a positive. To me, its an amazing time to be alive - the medical care is better, homes are nicer, there are less wars, education is more easily attainable, business can be done globally with the click of a button, there are more business opportunities than ever, you or I can make money from the beach or from a cabin in the mountains, etc. While homes are less affordable that doesnt negate my belief that there is more opportunity now than ever before.