I do really like the existence of recruiters (if only because it seems like a good separation of concerns), but my thinking is that if you aren't adding any value to the equation besides the mere knowledge of the name of a company that may or may not be interested in hiring me, then you haven't earned your commission. It should be easier for me to get a job with a company by working with somebody recruiting for that company than by learning the name and going straight to them. Why isn't that the case? Why does it seem like it's actually easier to cut you out than to work with you? (The royal "you".)