Reading this kind of hurts. The observations are correct, it's just most of the conclusions the author comes to are deranged. And how they're written? It all just sounds like it was written by a tinfoil hat wearing english major desperate to stay relevant.
First of all, the internet isn't on the verge of imploding, it's just in flux, as per usual. It also isn't stagnating, at least not on such a grand scale. Though it does feel as though it's lost a bit of steam in the last few years. That could be due to the homegeneitiy of the current investment landscape.
The author tries to sell us a doom spiral by comparing the state of services. They attempt to connect different services as if they're representative of a pulse for the internet as a whole. But the differences between Facebook and Tik Tok are vast, between Twitter and MySpace, between forums and Discord. Declining numbers in any of these does not indicate decline in any other service, nor the internet as a whole. Not to mention most of these are controlled by monolithic entities who also don't contribute to the web outside their bloated bubbles, the performance of these services are largely based on the performance of these companies and their investments. If one dies, it's a largely isolated event.
All the most recent, negative changes were made by spurious investments into anything that even seemed remotely profitable by eager investors. These bubbles will burst, and when they do, some people won't even notice the change. Some, of course, will be forced to adapt, or to leave the internet entirely. That'll likely mean the www will lose a lot of its traffic, but that doesn't sound bad for the internet as a whole... in fact it sounds good.
Companies are only making the internet worse because they believe there's money to be made. That, as the author points out, is not really going to be true for much longer, at least not for the current wave of companies. And when that happens, new companies will have to step in and pick up the pieces if they want to profit off the internet. Unfortunately for them, there's just not enough lubrication to keep an aging population of users relearning all their old habits in new environments.
I believe the internet, as it is now, will not survive for the individual. However, every individual must make that journey on their own terms. The author clearly made their journey ages ago, or perhaps was always skeptical. Others, however still have to make that trek. I have a few younger friends still in the beginning of their internet obsession where they (somehow) can still find regular content that interests them on the www. This group is likely to be the last large wave for advertisers. So, when they're done, that's it; The internet won't be worth investing in, and everyone who only ever used it kill time will go along side the companies. Those that made the journey will stay if they have use for a post-corporate internet.
The article, of course, assumes that the internet is just for fapping and killing time, when in reality it's used for a lot more than just that. Fapping and killing time is just what's being subsidized by the numerous companies invested in the internet. The article doesn't consider this, it doesn't consider that there were points before the current one, or that there are even corners of the internet where people share software and ideas. No, it just assumes that once this fad dies, the internet dies. I personally believe the internet has uses outside what companies invest in, and it's not hard to use it for just those purposes. That's enough of a reason to keep coming back.
All that being said, I do agree with the author regarding causes on the internet. One essentially does nothing when they try to devote their time to a cause online. Unless one explicitly uses the internet to organize action with others in meatspace, the internet is essentially worthless as a medium for revolution. Actually, it's worse than worthless, it's detrimental as it encourages non-action. In most cases even supporting forces who would ostracize those that would push for more forceful and aggressive action against the status quo. The corporate internet has largely made revolutionaries into pacifists, a trait which makes them non-threatening to those in power.
Even calmly explaining all this is a bit mastubatory and counter-productive. What I should be doing is running in local elections, organizing meetups, or sabotaging power structures in a variety of ways. I should be speaking in plain language about all of this, and freely expressing myself. Instead I'm here, explaining the obvious flaws of an article, while simultaneously not-so-subtly advertising my views regarding the web like it matters.