Internet in current state doesn't offer meaningful way for humans to communicate and connect with each other - it has turned from Agora into a dog walking space with erected poles to urinate on them - that is a great way to communicate for dogs, but a really big setback from the hopes that internet initially gave(for humans).
facebook demographics has changed a lot as well - it is getting popularity in non-English speaking world, but it is on a path of decline. I do not use facebook(and many friends are off facebook as well), but my mother interestingly does use facebook a lot, because it is a great tool to do marketing - even if the marketing consists of spreading ideas. The problem about mentioned social apps is that facebook, twitter, instagram can't be treated as something more than tools for marketing and approaching them as communication tools is a failure. Blogs initially offered more as a tools for communication, though most of them nowadays have evolved into online TV, to better serve the audience. Even some journalist I was following and reading articles now does regular podcast on youtube - though most of the reason for it is that this way is easier to earn money.
"The web wasn't killed by companies, it selected the companies that catered most to what most people actually want out of the web." That is false statement from the marketing point of view, where people actually do not know what they want. There are many clones of apps out there and even with better functionality and all the problems fixed that are present on current apps an we can wonder why no one uses them... There are also too many examples of how some of the great companies were killed off by intent and has nothing to do with how web is functioning whatsoever.