In the past, I made money sending cold emails, and my client also made money sending cold email (I believe even now after setting it up.)
I'm still doing cold email on and off, but not to the point that I'm crazy enough to buy a bunch of cold email tools, such as email inbox, email automation, and email warm-up tool (i.e., tools that will help you land to the primary inbox instead of spam.)
Just earlier today, I saw the video of Lead Gen Jay advising people to stop using Google Workspace if they want to stay relevant in the cold email game, and he also gives advice on what to use instead.
Here's the link for reference: https://www.youtube.com/watch?v=bpwAqJNHkjw.
So what's my take on it?
Again, I'm still sending cold emails, but more intentionally, at least once a week, and I only reach out if it makes sense (networking or collaborating) to me and to someone who is going to receive my email.
Mass cold emails, on the other hand, are expensive, and some people want to be ahead by sending thousands of emails every day, hoping that they will close a deal and become rich in the fastest way possible.
There's nothing wrong with that, especially if you have a 6-digit offer. I believe it is worth trying this approach; however, if you are a freelancer seeking a $200 project, you're better off showing what you can do on LinkedIn and Instagram.