Well, and intentional efforts by the major tech companies.
Like Facebook lying about video stats to push "pivot to video". https://www.niemanlab.org/2021/09/well-this-puts-a-nail-in-t...
"It turns out that the metrics that Facebook was using to measure engagement with news video were wrong, massively overestimating the amount of time that users spent consuming video ads. In 2019, Facebook settled a lawsuit with those advertisers, paying them $40 million (while admitting no wrongdoing). But it was too late for the publishers who’d already pivoted to Facebook video and then either made big cuts or shut down completely when it turned out people weren’t actually watching."
The web has led to 10x more content being published in the past 30 years than was published in all of human kind's history before. And that's not including short-form posts/comments/reviews/chats/etc on social media and forums and communities.
The amount of increased competition and commoditization of content is insane.
I worked at a newspaper for years, during the early days of social media (I made our Twitter account, even... and once dropped an accidental f-bomb on it). I remember the video push; it was a huge change to workflows, hiring patterns, technology needs, etc. It was built on lies and bad data, and media outlets really haven't recovered since.
It most be nice to have a 40-50% blood extraction machine when these same media companies would have owned their advertising networks if this were 30 years ago.
I can't think of a single company that wouldn't want a 40% boost in revenue.