recycling plastics is not cost effective (another random article) https://greentumble.com/is-recycling-worth-it
the real "solution" is reducing use, not recycling, and re-use, not recycling. Recycling is what should happen with what's left over after the other two "Rs" (remember the 3 R's?).
Instead the plastics industry says "use as much plastic as you want, we'll pretend to recycle it" and everyone pretends that it's actually happening, and it's not. I think that's called "green washing"