Logo design is a weird area. Some people think anything will do, a weird squigle, they saw in their pint, and others with spend a lot of time of effort getting exactly what they want. Thus it varies from free, to a few weeks or months work. Ultimately you are paying for someones time. The other point is that you don't have to "like" a logo if your clients like it and it works for the context its being used in. Too many spend too long finding something they like, rather than something that works. Perhaps even the one they like, their clients won't like, and won't understand or even doesn't work or can't be printed in the context its used. B&W, etc.
Its not financially viable to spend hours or days producing different designs for a pittance either. Somehowever will do that, as they want to build a portfolio, or use it as a loss leader. But in my mind thats a hobby not a business. That said theres nothing wrong with getting a few quid for your hobby, if you come up with something nice.