I think it's simpler than that: we sold out.
Tech in the 80s and 90s was the land of curious geeks who played with it because it was interesting, or because they had a goal they wanted to enable. But once tech became a powerhouse of investment, it became taken over by investors, financiers, and the kind of geeks who would play ball with them.
Some of them drank the kool-aid and became financiers themselves, corrupted by the same forces that corrupt bankers or politicians. Some of them sold out because hey, ping-pong table in the office, that's pretty cool! evil never has ping-pong tables! Some of them sold out because times are hard and they wanted a job. And some of them don't realize they have sold out, because tech culture does a very good job of propagandizing selling out as a virtue.