I would say that, but… there are a lot of, for example, Japanese companies that have been around for decades or centuries making great stuff the way they always had. Unless you’re saying Japan isn’t a capitalist country (I’d love to see how that argument plays out), I’d say there’s some difference in company culture that leads to enshittification.

I’ve heard in some cases it happens when a new CEO takes over and they have no respect for the existing culture, and just want to “make their mark” by chasing short term profits.