Their marketing team figured out that so long as the average consumer thinks the problem is solved, they will just keep buying the product.
Recyclable is inherently a marketing term. Almost any new plastic is recyclable, almost all of it will end up in landfill whether it's recycled or not. Glass is more efficiently recycled, but it requires a lot more energy to do vs plastic. Just use plastics that are already recycled and reuse the shit out of them.
Only PETE and HDPE are truly recyclable (resin maker 1 and 2 (the "recycle triangle" on the plastic)). Every other plastic is either impossible to recycle from jump, or degrades every time it's recycled. I don't think "any new" plastic fits the reality.
Almost any new plastic, by proportion of consumer plastics, mostly virgin PE & PET. As you mention, they degrade per cycle, which is why they end up in landfill regardless of being recycled.
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