Now, if the goal is more reps and exposure... sure. It feels good to be busy. But I'd hate to own a business where product is flying off the shelves, but I'm still not making much money, and my upside is VERY limited by supply side constraints.
I agree, I'd rather be working less events, and earing considerably more money per event, but to a point. Booking only 10 - 15 weddings a year at $1,500 to $2,000 isn't going to help me a whole lot. For one, I'd have much more time to spend that money I made. Now, if I am able to book 35 - 45 events at say $1,000 average, then add another 20 or so low paying gigs on off dates earning around $400 - $500...That shows a full time, healthy DJ business.
Finding the Happy Medium in frequency of work, and compensation for that work is much more beneficial to a full timer than reaching for the stars and trying to charge what the market can bare for a Wedding DJ.
Also, we are talking a DJ Business. What are the actual hard costs of doing an event to a DJ who spends zero to very little ever year (say $500) on advertising, and their equipment is already paid in full. Maybe they get all their music for free, or only spend maybe $50 on music over the course of a year. The reality is that many DJs look at the cost of doing the gig as just Gas and Parking expenses.
In many DJs minds, the costs to do a gig is like $50. ...Even if they are only charging $300, they are turning 5x Profit. If they charge $500, they are getting 9X profit. It doesn't really work out that way, but many DJs think like that, so there is no need to try to charge $1,500, or anywhere near it to do a wedding.