In other words, it's a bunch of dead websites and there is little incentive to create anything out of the ordinary.
For example, browsing a website that looks original, but is likely abandoned is a very different experience from browsing it in the 90s or early 00s when it was a part of something big, new and exciting. Even if the content is identical. The same principle applies to authoring.
I have seen countless claims that all the technology that someone could use in the 90s is still available. Regardless of whether it's true or not (mostly not), it misses the point. The social project that was web 1.0 is now defunct.
Paradoxically, the only way to create something equivalent to old-school web now is to invent something entirely new.
Web 1.0 was and still is a fringe project by and for oddballs. Just like most people in the '90s didn't know how to get on the web, most people today can't find their way past google and social media. In that regard, it's very much still the same.