My theory is that they also killed competitive magic due to the MeToo movement and the various other social causes that sprang up in the last 6 years. Wotc and its corporate parent cannot control who the winningest players are, and their old tournament structures more or less simply rewarded, and therefore promoted, those that did the best in tournament play. One individual, who frequently won or was in the running at the largest tournaments, was banned from competitive play for inappropriate texts and/or behavior. They subsequently moved to a system where selected partners, mostly Twitch streamers, were selected for qualification. Competitive qualification was still possible, but the change gave Wotc more control over the individuals that would play on their broadcasts.