That is categorically false.
Wikipedia is the greatest collection of knowledge ever assembled. It puts the library of Alexandria to shame. And all of it was created by people who did not make a single buck from their efforts, nor were they trying to.
The same can be said for the highly skilled professionals who devote their free time to building amazing Open Source technologies, for the contributors on sites like Stack Exchange, for the creative geniuses that write certain comments on Reddit, and for millions of others who tirelessly work to make the Internet what it is.
Of course, if you try to view the Web through the narrow lens of Silicon Valley business, you are bound to be disappointed. Join a few subreddits that aren't constantly on the front page. Get an IRC and/or Matrix account, and hang out in the channels. You may find that the Internet you are feeling nostalgic for has never disappeared in the first place.