This has nothing to do with tech. It's the ad business that's struggling, because of the economic situation and because more players want to have a piece of the cake (e.g. Apple, TikTok).
What we have to realize is that (a) the era of social networks is over. There is no need to create content for social networks, because that's not where your audience is anymore.
(b) EigenSocial sites like Lunchclub and Youtube will change the way we connect, learn, engage online.
(c) Monetization is deeply embedded in these products which makes it much more interesting/safer/profitable to be on those sites.
[1] https://deadline.com/2022/07/disney-record-9-billion-upfront... [2] https://www.reuters.com/technology/apple-expand-live-tv-adve... [3] https://app.finclout.io/t/nvqDbev
... (e.g. Apple, TikTok).