Exploitation is exactly that. When it is also exploitation of minors or the gullible it is still worse.

Those responsible for this type of money making venture are parasites and, as are most parasites, they drain their hosts.

You are right to be glad that this appalling (anti) social media platform is failing. I fully support your view, not only for its hypocrisy and potential for both physical and mental harm to content creators but also because it promotes the unfortunate materialist ethic which pollutes our society and destroys lives.