Russ Alberry's famous rant about spam ruining USENET was 1998: https://www.eyrie.org/~eagle/writing/rant.html and should be required reading for anyone trying to build a decentralized communication system.
> pre dot.com or the bbs world to find it
That was indeed where the good stuff was (and some of the bad stuff; BBS culture could be flamey and cliquey as well as welcoming). It was so good that an entire generation of people keep trying to build it over and over again, such as bluesky, mastodon, and the deceased cohost.
i was on the internet in 01992: before adsense, before monkey punchers, before geocities, before amazon, but not before dot-com, as my references to lynx and the nsf should have told you. money was a big factor but not in the way you are describing
1992 was 12 years before 2004