Can someone explain the 600.00 reporting to the IRS?

I have been hearing that starting in 2022 any amounts over 600.00 received on your Paypal, received from EBAY, Etsy, Facebook Marketplace, in your bank account will have to be reported to the IRS and will need a 1099 form. Who started this and to what end?
It seems to be directed at the lower income people that are just trying to earn a little more income to make ends meet.