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Noun: enshittification   en,shi-ti-fu'kay-shun
Usage: vulgar
  1. The gradual degradation of online services, e.g. by advertising or promoted content
    "Enshittification results from the convergence of two things: the power of platform owners to change how their platforms extract value from users and the nature of the two-sided markets – where the platforms sit between buyers and sellers, holding each hostage to the other and then raking off an ever-larger share of the value that passes between them"

Encyclopedia: Enshittification