Allow me to switch to asshole mode for a minute:
"Things used to be so good" is mostly rose-tinted glasses: What exactly WAS the "old web" anyway?
100s of half-baked sites hosted on Geocities, Yahoo, about pointless stuff? Epilepsy simulator websites splattered with gif-vomit? Everyone and their grandmother asking you to install their 10 toolbars?
Honest, serious question: What actually was of objective substance on the old internet that's nowhere to be found now?
You can find random pointless stuff now too, just that except Geocities/Yahoo it's Intsagram/TikTok/Twitter etc.
If you mean self-hosted websites, they're still here, and nothing's stopping you from creating your own.
If you loved all the Flash toons on Newgrounds etc there's unironically a lot more shorts and animations on YouTube or even Vimeo now, if you but search for them (the old gods like Weebl, David Firth are still there, and I suggest Sechi, DoodletmeGo, Nondescript Video Club, and からめる to start with then let the algorithm soak up the weirdness)
Just as the "internet" supplanted newspapers, magazines, and broadcast television for many people,
and how the newspapers replaced the town criers before them,
why shouldn't the "internet" be supplanted by a more accessible medium?
There's so much crap on the "old" and "middle age" internet: ads, scams, anal mods, trolls, bandwagons, vote wars, low-effort content and other repetitive noise that could be bypassed by just asking AI about something and make better use of your limited mortal lifetime, like watching that anime you've been putting off for years.