It really started to die in 2022-2023, but the final nails are definitely being put in this year.
So many "open systems" now completely hidden if you don't have an account now. How long until Reddit doesn't even let you read without an account?
Of note - I killed my Reddit account during the whole
That's just another single-control-point "social media". I'm done with those. Sure, they claim to have altruistic intents, but so did Reddit. So did Twitter.
No more centrally-controlled social media. "Fediverse" options now. There is already a Reddit-like protocol called "Lemmy" that has hundreds of servers. Just pick one whose focus feels like your primary need, then join channels (subreddits) on other servers from there. If one server changes in a way you don't like or shuts down completely, migrate your account to a different server. Or if you're technically-minded, host your own.
I'm now only on federated "social media" and single-purpose independent web forums. (Like this, or ones for the car makes I own, etc.)