I don’t think speed dating is as popular as submarine[1] articles suggest. But the constraint of being in-person and with a limited set of options may be helpful for some people. The paradox of choice is a significant issue on apps.
I do agree that bandwidth is significantly higher in person, we’ve evolved efficient pattern detection, and wish it were more acceptable to meet up for a quick coffee immediately after matching. But a few bad apples spoil the bunch.
There’s an alternate explanation - that the fittest companies prioritize engagement and revenue until reaching some threshold of user dissatisfaction. The healthiest businesses often have customers who wish they could leave, but can’t.