This here is certainly it. All the main popular content is from people pandering to algorithms. The old silly stuff was made from genuine whimsy, because making money from being an "influencer" or "content creator" wasn't even a thought.

Now, social media has the undertone of trying to get rich to sell some product or get a sponsor. It's not everyone, but even those who aren't looking for money or fame end up mimicking the same algorithm-seeking behaviors, just because that's what the internet is filled with.

The mid-2010s was where "reaction content" and "cringe compilations" and drama bait started gaining traction. People were being rewarded for disrespecting/harassing creatives, who subsequently began withdrawing from these increasingly-toxic spaces. This was beginning to wane in the early 2020s IIRC, but now has come back with the "dramaslop" plastered all over YouTube.