It's mass phishing versus spear phishing. I believe anyone would fall for a highly specific spear phishing campaign from dedicated individuals, but I don't believe most people are important enough to be victims of it nor do most people need to really do it.

[–] [email protected] 2 points 17 hours ago* (last edited 17 hours ago)

The cost of people to run the scams is also a big factor. If poor quality can actually be an asset, slave labour from Myanmar or similar is going to be very competitive. You can have a small center full of those unfortunate people for the price of one Western cracker to do spear phishing.

[–] [email protected] 3 points 1 day ago

Right and the motives are likely going to be different too. Mass phishers are just out to make a quick buck, but targeted phishing could be for money, intelligence, disruption, making a statement, or even just clout.