as these industries are more of a luxury rather than a necessity.

Not in their entirety. They've become that over years. I look forward to seeing things come to normal.

I believe that investors are hurting for money and are pushing platforms to turn a profit at all costs which is hurting the industry.

I like this. This would mean centralized commercial platforms being hit, while decentralized not at all.

I mean, of course, this would mean some jobs shrinking. But as there are commercial email providers, we may see, for example, commercial Fediverse instances. With lots of storage, some premium functionality, all that.