Ilya Somin writes on the Volokh Conspiracy:
. . . Article V’s requirement that a constitutional amendment has to get the support of 2/3 of both houses of Congress, plus 3/4 of state legislatures makes it too difficult to amend the Constitution. Since every state but Nebraska has a bicameral legislature, that essentially means that an amendment needs to be ratified by 76 state legislative bodies (or 75 if Nebraska supports it), as well as broad supermajorities in Congress.
. . . there is much to be said for requiring a supermajority to amend the Constitution. However, Article V makes it almost impossible to enact any really significant amendment . . .
But far more important than the fate of particular amendment proposals is the fact that the near-impossibility of enacting change through Article V means that pressure for change is often channeled into other, less-desirable directions such as judicial manipulation of the Constitution.