A side effect of employing tens of thousands of full time people that do product development is that matter how good your product currently is, there is an entire organizational hierarchy that has to justify its existence. The result is that every great product keeps picking up parasitic features and functionality. Intended to add value, but paradoxically removing overall value.
There is a fine line between staying ahead of the competition and enshittification and most companies don't find it.
The most recent examples that come to mind are Spotify and Slack. Products that were, at one time, a pleasure to use, but have since been significantly degraded by a continual assault of minor features and re-working of UI.