Actually, there is one other important thing that has changed: as developing a certain amount of functionality has gotten easier with modern languages, tools, libraries and coding agents, it’s also gotten less interesting for technology-driven people and more accessible to career-driven people.

Implementing the first text edit field in your program is kind of interesting when all you have is asm and 4k of RAM. Nobody wants to bother doing it manually when you have a web browser that can eat gigs of RAM.