Yes, this is a known issue.
There is a "bug" with the view bid feature.
See this thread - https://community.upwork.com/t5/Freelancers/Bad-upgrade-experience/
And yes I'd be livid if I was paying for pro membership and not getting this feature as advertised.
I heavily oppose the paid subscriptions simply because the price doesn't warrent enough features. Being able to view other applicant's bid shouldn't be a beneficial feature if you consider your work to be of great quality.
Ignore what others are bidding and bid what you feel your time is worth.