BBS, AOL, Netscape, MySpace, Tumblr, FB, Insta, Snap...
Why are we surprised by this progression? All "good" things go bad. The same lessons, rinsed and repeated. Power, money corrupts. We burn effigies and mark their passing. We move on.
Tempted to say a little more history and psychology instead of fiscal fixation would make a difference. Tempted, but no. It's not how humans work.