Is Fiverr passed its prime?

I just want to get everyone's opinion on this. Seems like the new Fiverr 2.0 has been a disaster and it sounds like the site is saturated with sellers, but not enough buyers. Do you think this is true? Is there still room for a newbie like me?

I love the concept of Fiverr and think it can be a great way to make a living, or at the very least, gain some experience. But I'm afraid I joined the party too late.

Thoughts?