The piece argues that many tech companies and media businesses have turned against their users in an attempt to extract more value. Executives like David Zaslav are criticized for their cynical approach that aims to drain the culture’s “dream reserve” for profit. This enshittification process happens when platforms abuse their users to benefit business customers and then abuse those customers to claw back all value for themselves. The author suggests that capital’s desire for endless growth and control, without needing people, stems from an old capitalist fantasy that ignores human needs. However, the value of these businesses ultimately comes from people, not the executives. Therefore, there may come a time when people must part ways with those who own much but understand little.
Agreed, in the text the original article is linked where Cory Doctorow coined the term enshittification - I enjoyed reading that article.
Yes I read the whole enshittification article; loved it!