I'd say that just because those authors hired less-than-stellar editors, that doesn't mean all editors aren't worth what they charge. I know that for my books, the developmental edit was key. Since my books were published by conventional publishers, yes, the editors were employed by them and I didn't pay directly. But I would have. (And you're selling yourself short at 2 cents/word, imo!).
I do like your distinctions between the different needs of authors at different stages of their writing careers--five separate edits is rarely necessary in my experience, too.
Developmental edit is definitely the key to making your book shine AND improving as a writer. Some of the works I get are in worse shape than others, so when needed, I do go up to 3 cents per word. Once you start getting into the 5 cents per word area, you're getting into the range that makes it very hard for first time authors to use you, which isn't what I want.
I'd say that just because those authors hired less-than-stellar editors, that doesn't mean all editors aren't worth what they charge. I know that for my books, the developmental edit was key. Since my books were published by conventional publishers, yes, the editors were employed by them and I didn't pay directly. But I would have. (And you're selling yourself short at 2 cents/word, imo!).
I do like your distinctions between the different needs of authors at different stages of their writing careers--five separate edits is rarely necessary in my experience, too.
Developmental edit is definitely the key to making your book shine AND improving as a writer. Some of the works I get are in worse shape than others, so when needed, I do go up to 3 cents per word. Once you start getting into the 5 cents per word area, you're getting into the range that makes it very hard for first time authors to use you, which isn't what I want.
I suppose it also depends on your market and the type of writing you edit.