Sure.
Women are gravitating more toward guys who are average or less than average in looks for their hearts or their wallets.
In tough times such as now; financial security is important.
On the looks side of things.
I moved to Missouri last year. Most of the people here are average looking to average looking plus or minus.
I haven't seen any 'bombshells'.
Looks can matter for sexual attraction.
Getting to know someone and seeing them for their goodness inside can make any person more attractive than originally seemed.
The easier version of this is
If you want to just have sex with someone to look at beauty, then just find the most attractive person and have sex with them and use protection.
If you are seeking a relationship that lasts, then look at all people as you are chasing a certain type of heart.
There aren't any perfect packages and the ones that are close, are either taken or waiting for what is perfect for them. If they don't find it, they aren't going to settle for less.
Betcha

The only time I've had an opportunity to observe how large groups of people pair up was high school, and at that time I don't think I noticed what you've observed to be the case.

Attraction works on less physical spheres for women. Attitude, bearing, and power attract more effectively looks, which certainly help.

With men, physicality is key to much of their attraction to women (classically feminine physical traits); as well, historically, the man is the less attractive of the couple. Thus, why would the beautiful man settle for anything visually less inspiring?

~ Kole

I've known vain women who purposefully choose to be friends with women who are less attractive than they are so that they will stand out.

Bleh...

Men will have the tendency to get with the hottest woman he can afford. The sad part is there are more than enough hot women more than willing to demonstrate this observation as true.

JSin