Because its...

1. All about lock in. Trap customers and their data.

2. No purchases, only rentals. You never own anything.

3. Agreements are worth nothing. Today's feature is tomorrows premium feature.

4. Gamification adds an extra edge of badness on the hopes that you'll get what you want.

5. "Updates" rarely help, but almost always harm, in the name of "security"

6. Mergers and acquisitions means nothing is ever safe. Purchasing BigCo (exit) can mean operations cease tomorrow.

7. Enshittification rules always rule how the service will degrade, but not at what speed

8. Easy click to subscribe, but show up in person wearing all black clothing to the basement hidden office behind the no-trespassing sign to the cigarette man to unsubscribe.

9. And even if you THINK you own hardware in your physical possession, firmware updates maintain the real owner and cripple functionality. (PS3 OtherOS, etc)

So could it be Capitalism?

Linear growth is a failure; only infinite, exponential growth is acceptable.