Decades ago, there was less competition for eyeballs, much more high-quality content (vs. slop), and investors were a bit willing to just build an audience without seeking immediate returns. Early social media was aspirin: a useful drug, but not addictive. Now it's super-cocaine and hyper-meth trying to keep the user high.

Also, what's an 'ad' is an extreme spectrum nowadays with free stuff given out in exchange for a post, people trying to act like paid influencers to fake it until they make it, paid influencers, and listicle affiliate link slop.