> It’s quite common for companies

This is not general. This is true only on markets which are full regarding available customers, and there is no foreseeable growth.

What we can see in IT in the past 10-15 years (especially after around 2015) is the slow progress towards this state from a rich and competitive (and personally I think a way more fun) one.

I worked for dying companies (e.g. Ericsson), for slowly moving ones (e.g. Santander), and for several now dead startups, and what happened with Google, Microsoft, etc is that they slowly moving from the "startup" market - there is still available non conquered market segments - to the dying, slowly moving one - where there are a few large players, and it's not possible to grow in any meaningful way with your own skills. The only difference now compared to the decades until the 90s is that antitrust checks and balances are dead, and they can artificially inflate their own power, which haven't happened in this scale for at least 100 years. And it caused world shattering problems back then, and it will now too.

I would leave this field happily, even when I'm exceptionally good in it, because it's more and more disgusting. Only if there would be any good alternatives, which wouldn't require me to loose at least a decade of my life. But unfortunately, the balance is way more fucked up to easily change my lifestyle at this point. And it will be just worse than this.