I don't buy it.
First off, there's always a tendency to overplay the negative aspects of the present while dismissing the positive aspects and to treat the past with excess nostalgia.
Moreover, it's very difficult for most people to grasp the significance and degree of major changes in society, culture, and the economy on short time scales while immersed in it.
I've been using the internet for more than 20 years and while there are certainly many negative developments that have happened along the way there have also been many positive ones. I would not at all characterize the modern internet as heading toward less freedom, not at all. My impression is that far more people are far more aware of issues of injustice and oppression today than was previously the case. It used to be that only a tiny sliver of "radicals" were really clued into those issues, and many of them also adhered to one or another nonsensical conspiracy theory to boot, which weakened their cases when it came to appealing to the modern world. Today I see growing kernels of increasingly less marginalized and increasingly more powerful people who have been educating themselves, participating in the conversation, and speaking out.
No it's not perfect, and it's not happening absent a lot of the revelation of lots of repugnant behavior. And it's also happening seemingly very, very slowly. But my perception is that the trend is for the most part in the right direction and strong. Giving up is the only sure way to lose at this point.
The bulk of this article seems to be completely out of touch with the way people have been using the internet, especially younger people. It's not becoming more TV-like, it's becoming more interactive and participatory. It's not retaining existing power structures. That only appears to be the case when you look at bullshit measurements based on bogus statistics like paper valuations and user counts. The reality is that the real power is in the people. In the content creators, in the groups, in the social networks themselves. The value layered on top of that or spread in-between to facilitate it is fragile and small by comparison. It's the same as in Silicon Valley. Having a billion dollar valuation doesn't mean your company is powerful or secure any more than having a billion users does. And it doesn't.
I predict that within the next 5 or perhaps 10 years there will be another great shift and "implosion" of one of the current major "internet powers". Perhaps facebook, or youtube, perhaps even google or amazon. I don't think people understand the mobility of the modern technological market. You do not own users or customers, you retain them through superior service. It will probably shock people who vulnerable these mega-corps are to disruption, and once one of these big shifts happens once you are going to see a crapton of bloviation from the chattering classes about how absolutely unpredictable and ground-breaking the whole thing is, but it means nothing more than that they haven't been paying attention.