No, we've been inundated with low-quality content for decades now. This is nothing new.
Fortunately, ratings and reviews and popularity have always been an extremely effective antidote.
Even if 99% of stuff on a platform is total crap, nobody cares. It's a non-issue. Whether you're talking about music, books, TV shows, or whatever. The 1% rises to the top and you don't honestly need to pay attention to the rest.
If you choose to pay $20 for something that has 3 reviews that are all 1-star, then that's more your problem than the system's problem.