people find a lot of value in the products and services they offer

This is definitely true to some degree, but there imo is also another side to this.

Yes, they there are underlying problems/demands that they solve, but they definitely also create and shape those since psychology sadly works extremely effective. And they really try their hardest to manipulate customers.

Another aspect is that they might have originally created that value and given the users what they wanted, which got them in the position they are in now. Sometimes even operating at a loss to bully competition out of the market. But once they achieved this dominant position enshittification commences. Which wouldn’t be that much of an issue, if they wouldn’t also often prevent competition from growing enough to be able to compete.

Example Google search: The demand for a way to navigate the web is real and google fulfilled it best, which made them huge. Timejump to the present: the demand is still the same, but now google shows you what they want you to see and pay billions to be the default search engine to hinder any competition from gaining any traction.