I'm working on a problem kinda similar to that with a binary classification on a class imbalanced dataset, but fastText and Bidirectional LSTMs appear to work pretty terribly even with oversampling. Is there a better alternative?
Class imbalance is a tricky problem, but it is unrelated to FastText.
There is no silver bullet. The best solution is to collect more data to bring the classes to a balance. The second best approach is to try algorithms like SMOTE.