Charles Taylor, the philosopher, covered much of this about twenty years ago with far less snark and buzzwords. I strongly recommend reading The Ethics of Authenticity. It’s all about the trend of individualism and how it precedes social media by...centuries. https://www.hup.harvard.edu/catalog.php?isbn=9780674987692 Social media is no longer authentic so you’re seeing a slowly growing backlash against it. https://se…
I think the whole thing is bogus from the start, the 'social media' idea I mean. These are companies.. they're not here to make culture or societies.. they're parasite leeching on your human needs. When a new trends starts organically, it's all impulsive and genuine, then people start to profit on it and the game is over.
I think I have seen the same argument about anime conventions. The idea is that a trend starts with a small group of passionate people, as things get bigger and more popular, followers arrive. Followers are not really passionate, they just jump on the bandwagon, but will leave and jump on another bandwagon as the thing gets less trendy. With the followers come people who will try to profit on them since they represent a sizable market. Among the "exploiters" are former members of the original group, who see a find a way to monetize their passion, taking advantage of their deep knowledge of the field.
So the idea that "people start to profit and the game is over" is mostly right, but the dynamic is more complex than just having a small number of people ruining it from everyone else.
And it is not all bad. While the community is less genuine, it is also more productive, if anything, just from the sheer numbers.