Social media is now exactly what cable television used to be, but worse; it exists solely to coerce you. You make you feel insecure, you leverage your emotions for someone else's aims. Due to the changes in technology, social media is far more effective at this than cable TV ever could be, but the concept is the same. It's some remote person attempting to manipulate you by also packaging something enticing along with…
Whatever you want to call it, HN has followed a similar trend. It's rare to see the authors of small, but interesting/innovative, projects show up in the comments, surprised to see their work on the front page. That used to be common, even the default, if you look far enough back.
Now the front page is current events and marketing campaigns. I don't think I've seen a single software project here in the last year that wasn't already extremely popular, or being pushed by a company with a marketing budget.
In theory AI should have helped. I know people are still making cool stuff, faster now with AI, but it's harder and harder to find it.