I've gotten a lot of free or very low priced ebooks, especially from Baen. For a prolific author it is a great idea to sell older books cheaply in order to attract new customers especially if they think most of the people who already follow that author have already bought/read their earlier books and will only rebuy the ebooks if they are cheap.
For new authors trying to establish their name it is also a good idea to sell the first few cheaply long enough to hopefully attract some readers and get some good reviews.
It has nothing to do with not valueing their work but more with competion for readers.
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