"Enshittification" is not a hard word. It's describes itself: "En-" to make, "shit" bad, "-ification" the process of; in sum the process of making something bad. I think everyone understands that the products and services they use daily are getting worse and now they have a word to describe that experience. I think that by basing itself on the mild swear "shit" it actually distances itself from academic jargon or other fancy words to try to be something that is closer to the common person.