It's the eternal cycle:

• Small platform has quality experience because most users are genuine and engaged, and user base is too small to be "worth it" for corporations and trolls
• Platform grows slowly until it reaches tipping point of popularity and network effect
• The platform has explosive growth, drawing interest of corporations and trolls
• Corporations enshittify while trolls crank out misinformation and rage bait
• Users reach tipping point and leave large platform to smaller platforms that don't have corporate interests and trolls
• Repeat due to network effect