It is a sort of tragedy of the digital commons, where the commons in this instance is the availability of extremely usable digital channel for people to communicate online in a decentralized way.
The early pioneers were really excited about the empowering potential of all this, but alas they did not work out the full dynamics of human nature (seeking short term profit, influence and control) especially when it is combined with the amplifying impact of automation and algorithms.
In short, the channel is being ruined by noise, the signal is swamped, the digital commons is being overgrazed and dying.
Nobody feels responsible for this. The stewardship of this most unique resource that was gifted to us by the digital age is laughable. A cacophony of commercial and state interests that have not produced a single positive development in the last thirty years since the invention of the web.