The market is bad. I've been unemployed for 9 months, almost no interview invites and the ones I did have led to nothing (also to no alternative hire of someone else for the allegedly position). And I've got almost 20 years of Product Leadership experience, Stanford, Google, myspace, Booking and Trip.com Groups, that stuff. The market (in my case APAC: HK/SG/AU) is shit and frankly not really worth engaging in right now.
I'd love to be employed, but a low IC position (haven't done that in 13-14 years) for 60-70% less pay (the last one who contacted me) is a bit of a tough pill to swallow in a market with (last year) 10% inflation.