Any organization that’s forced to pursue endless growth is going to end up enshittifying eventually, because there’s only so much innovation and wow factor that you can do to make a product appealing before you hit a talent/demographic/creativity limit. Not to mention that infrastructure and operating costs are massive when you hit that level of scaling and that needs to be funded somehow. Eventually they’ll be forced to start extracting more value out of their existing userbase to keep the revenue growth going. Going IPO is mostly just a telegraph for how things are going behind the scenes.
I’m currently rebuilding my math foundation and part of that process was tracking down high quality educational resources with passionate instructors, rigor, and entertainment factor (because I want stuff to recommend to parents). I did eventually find something that was better than what I got in grade school, but I have to say that the Pythagorean Theorem just isn’t going to be as interesting as social media feeds and entertainment products custom tailored to my preferences. No teacher is realistically going to be able to compete with the multi-billion dollar entertainment industry for attention and tech companies are abusing psychology research to make their shit as addictive as possible. It’s not the biggest problem with the US educational system, but it is one of many, so I’m down with restricting smartphone access at schools.