The plastics industries don’t want any disruption to manufacturing volumes, so they’ve invested (together with government) a lot of money in propagating the plastic recycling myth in order to keep political pressure off themselves. Recycled plastic is poor quality and unfit for consumers, which is why the recycled portion of new plastic units is typically single-digit percentages. They’ve also created a new bit of greenwashing aimed at convincing the public there’s a ‘new and improved’ class of plastics that stand up to recycling at higher rates, but most experts think it’s just clever accounting.