Food, especially fresh food, used to be a lot more expensive when adjusting for inflation. A canned chicken like this doesn’t look super appetizing right out of the can, but it probably tasted OK after you shredded it and put it in a casserole. And it was significantly cheaper than buying a fresh whole roasted chicken, assuming you lived somewhere that fresh whole roasted chickens were even readily available.

Nowadays, between industrialized farming, highly optimized supply chains, and a buttload of government subsidy, fresh food is comparatively cheap. You can get a whole roasted chicken right off the spit for $5-10 at just about any grocery store. So for most people the value proposition of a $3 canned chicken isn’t really there anymore.