Easy to keep saying this, but SO was useful because it wasn't wild west.
When that stopped, the site (and to some degree its growing number of sister sites) continued on its ballistic curve, slowly but continuously descending into the abyss.
My primary take away is that we have not found a way to scale moderation. SO was doomed anyway, LLMs have just sped up that process.
Compared to anything before it (endless phpBB forums, expertsexchange, etc.) it was just light years ahead.
Even today compared the SO UI with Quora. It's still 10x better.