Blogs cost a large deal of time and effort. The reward used to be a decent amount of traction. These views, engagement created motivation and also would inspire others to hop on.
Since things were new, attention was more distributed, even if some blogs recieved a lot of views. It wasn't so overwhelming like today, where the top recieved virtually everything.
Because of this attention economy, now there's so many other things to do. Both for the blog writer and potential readers. With the little time people have, they'd rather be reading pgs blog like some random smuck like myself. This isn't only for blogs, it's also true of movies, people would rather watch the big ones than small or mid movies.
To write a blog, to spend so much time and effort. To pour one's soul out and have ZERO reads is brutal. Yet, a tiktok of someone farting will gain infinitely more attention than the blog article. Its not very motivatial to continue in this climate.