I think it is an assumption that just because you charge low, you will have a hard time maintaining your business in the long run. There are many such photographers who can't be bothered with their precious time to post their opinions over here. So it doesn't mean they don't exist. Simply put, there is a wide range of clients to serve in the photography industry. It doesn't mean when one charges low, he is not doing well. And neither does it mean his skills are lousy. I have a accountant neighbour who can take really beautiful pictures, arguably matching pro standards, but to him, photography is just a hobby and never a full-time career option. (Of course, as a qualified accountant, he can command a lot more salary than being a photographer.)
IMHO, I find it also unjustified for other higher charging photographers to put down those who charge cheaply. For those who charge relatively more, you are constantly exposed to your peers who charge like you or even higher, and you mingle with a certain group of clients with certain expectations and income group. So you kind of imply those "low-chargers" are like lower-class people who serve cheapskate couples. But common sense tells you not all couples have the same kind of social background or thinking.
For eg, not everyone will be foolish with their hard-earned money to go overseas for a bridal shoot if they are tight on budget, or hire a photographer who charges more than their one month's salary. In fact, you'd be surprise to find high-earning couples (and I mean those who earn big five figure sums per month!) who don't mind getting their friends to photograph their weddings, while the low-income HDB dwellers will want to spend lavishly on photography. At the end of it all, as long as the couple are happy (whether they are wise or foolish in handling their finances is another story), that's what matters.
As for photographers who reduce price to match or better another photographer, I don't think the mid to higher end ones will do that. But I also don't find it anything wrong. Photography is no different from a service-relatived industry. And it is very competitive here. It's similar to you trying to buy a computer and shop A give you discounts better than their competitors in order to attract customers. If the photographer who does that can survive, why not? It's his prerogative.
So we do need lower charging photographers to serve people with a lower budget in photography. Whether a photographer charges high or low, to me that's not an issue. What matters most is that they are responsible and deliver their jobs as promised.