Ask HN: What Happened to Airbnb Pricing?

I recall back when AirBnB was growing (circa 2013-2015 in my mind) the appeal was primarily price. Yes, there were conveniences around having an individual place, etc, but I recall most AirBnBs being priced well below hotels of roughly equal quality.

When I look now, it is often cheaper to stay in a hotel than an AirBnB of roughly equal quality, sometimes significantly so. This pattern has held in at least 10 major/minor US cities I’ve used over at least the past year.

What economic forces are at work to cause this?