I don't think "culture war" was a big contributor.
Google, Apple, Facebook, etc, had their woke phase with tremendously growth, and nobody says "get woke, go broke" when they made billions. What about Twitter losing all its users because of Musk? Most of the people in my social circle who said that are still using Twitter nowadays. And if you dare to say that they are drinking the Kool-Aid, you are "not following politics close enough"