It's just something dumb to pass the time. When I was a kid we had Charlie the Unicorn, Potter Puppet Pals and YouTube Poops.

If you feel morally panicked by Skibidi Toilet, you are old and out of touch (which is fine). It's the same as it's always been.

Edit: Well, not /just/ something dumb. Completely forgot about the associated lore some of these had, which makes them even more like Skibidi Toilet. I guess there's a whole category of "dumb things with underlying narratives." Filthy Frank is another one that comes to mind.