both companies notably ruined the internet in the 2010s by consolidating discourse then taking various steps to destroy the user experience and the feel of the communities for profit.
so, broadly, the web went from cozy, small hobby forums in the 90s and 00s, then with the 10s as a transitional period, the 20s being practically complete corporate control of online discourse.
it’s a bummer. but nothing lasts forever. where will we go next?
The Internet does not care is the bottom line. Both are still large platforms. Should they stop existing in the distant future, nothing really will happen, people find new ways to waste their time or find 1:1 copies of what they miss.