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Very little about modern technology "makes sense" in the way you mean. But it does currently make money.

Frenetic economic activity in service of other frenetic economic activity cannot, by itself, be taken as a reflection of quality-of-life improving growth.

Suppose that subsidies lead to the price of Ubers falling close to zero, with drivers also being incentivized to drive more to support the (artificial) increase in demand -- artificial because it is driven by subsidies funded by new money creation. Traffic increases and in response, new roads are built.

Instead of 5 people buying 5 copies of a t shirt that they only wear once a week, why don't they just buy 1 copy and share it?

Is that not how Cloud storage vendors make money? They dedup all that data but still charge every individual for all their data.