A lot of employers want employees that will be active during normal business hours (+/- a couple hours).
There are still quite huge wage & cost of living differences, e.g. a Bulgarian programmer working remotely for a Danish, Norwegian, Swiss or English company will be getting several multiples of what they'd be able to get locally and still be in roughly the same time zone (which is important for some companies/individuals).
I am living in Berlin and work remotely for a west-coast Canadian company (9 hours time zone shift) and it is in many ways quite a sacrifice.
If same timezone is all you want, why restrict it to EU? Cape Town is the same time zone as Bulgaria, and if you're outsourcing anyway EU citizenship doesn't matter.
I think you're reading too much into the name - it's simply a site that collates job offers that align well with European time zones. It doesn't actually say you have to have an EU citizenship, anyone can apply to the ads collected by it.
There are still quite huge wage & cost of living differences, e.g. a Bulgarian programmer working remotely for a Danish, Norwegian, Swiss or English company will be getting several multiples of what they'd be able to get locally and still be in roughly the same time zone (which is important for some companies/individuals).
I am living in Berlin and work remotely for a west-coast Canadian company (9 hours time zone shift) and it is in many ways quite a sacrifice.