Hardly. There are countless firms who built their reputation on and survived quite happily making durable products. You might find pages of their early products filling eBay and the like, still going strong. A few are still adhering to those built to last attributes, most have transitioned into "as cheap as we can get away with, but with our valuable brand and logo" as has most of the whole world, including those offering coffee pod and headphone (ffs!) subscriptions.

The steady progression of new people - some created every day, new homeowners and what have you was enough to give a vibrant business, and ongoing sales.

What changed was the deal.

Pre 1980s most companies tried to balance the needs of all - staff, customers, local area, and shareholders. Post 1980s only the shareholders count, all else is secondary. Products and offerings are made and subscribed accordingly. The few folk still making stuff to last seem to have an anachronistic worldview to go with it. Perhaps still care about craftsmanship, repairability, and reputation, rather than built in obsolescence, subscriptions and DRM'd parts. Now they can sell you the thing 15 times, perhaps 12 of those without good cause apart from greed.