WordPress is $5 in a VPS, click a theme, add a few plugins, it’s an insecure mess but it was cheap. Need a designer? A few thousand bucks is cheaper than a programmer.
It’s not the network effects. It’s about doing things cheap and fast, for which WordPress has no parallel.
And no, this is not a problem with capitalism. Every social structure ever devised has done this. Even if you’re McDonalds and you want new marketing pages in 2 weeks for a 1 week campaign, WordPress is fine. What else are you going to do? Build a CI/CD pipeline for a 1 week website?