Do you think the $1 is already a good payment for an hour of teaching?
Absolutely No.
Teaching requires some speciality in a specific subject or even if you are teaching someone for part-time job then also you require proper knowledge about that stuff. So, $1 per hour for such a skilled job is too low.
But if you do live in country specially on 3rd world then that would really be enough and there would be people who would really be taking the deal but you are right that
this isnt really enough when you do really have a degree and had a specific specialty on what subject you've been teaching.