To be clear, I would always 100% recommend trying your approach. It's how I even got my start, back when I was 17. It really does work.
But it's also more effective when you're a young, wide-eyed student. People see in you what they saw in themselves: a young person, eager to learn and to do a good job.
The older you get, the more strings that attach. And you lose the charm of being a young ambitious person. People have more history by which to judge you. No one expects a sub-3 GPA student not to have resume gaps, or a degree, or leadership experience, or any of the expectations that come with age. It's just a fact of life. Even if it's technically ageist, I'd rather play the game and win, not argue the game isn't fair or that it should change.
The moment I read bottom-feeder, "bottom-of-the-totem-pole, recruiter," etc, my recruiter buddy from St Louis immediately popped to mind. We weren't friends outside of work, but he placed me at two big financial companies over the course of two or so years. When I was fired from the first one solely due to showing up late (because undiagnosed narcolepsy), I was worried the recruiter's firm wouldn't want to do business with me anymore.
I shouldn't have been worried at all; they care about their cut, and I cared about not running out of money.
But I probably would have worried a lot more if I had secretly thought of him as some bottom-feeder loser, rather than a key who could open a door that was mutually beneficial. Because (a) business partners can sense when you think poorly of them, unless you're really, really good at hiding it, and (b) it would blind me to the fact that I needed him.
He was a cool guy on a personal level too. Had a house, dog, family, took me out to lunch a couple times, etc. He was doing better than I was at that point, for sure, even if I was in a stronger position long-term.
I guess the takeaway is, do the cold-email thing if you can (twitter DM works shockingly well for this); if not, try to find someone you know who might be looking; then recruiters as a fallback plan. But boy oh boy, if those "bottom-feeder recruiters" weren't there for me, I would have been screwed. :)
The privilege is simply thinking that you're better than the recruiter doing his job, or the woman at the store bagging groceries, or anyone else. A little twist of fate, being born to slightly different parents, not having the right mentor in your life, not having access to a computer when you were young... any of these things could easily have put you in their shoes, almost regardless of inherent ability. So it was just super shocking, I suppose, to hear such "honesty" about my cool recruiter buddy with a dog.