When money is all that matters, it makes sense (to first order) to push out everything that seems to lose money and is purely cultural.

This is the machine winning.

To second order(s) and above, erasing culture reduces the desire of folks to live and prosper in the first place.

It also feels like a result of housing/property values being so high. When a block of flats can sell for £100m (and bring in council tax money), why keep markets or build libraries. It's sad.