That's an incredible selective way to look at it. Google search has almost no competition. Social media has Snapchat, Twitter, TikTok, and there's really not a huge bar to entry. New social media apps rise all the time. It's also your opinion that their product hasn't improved over time, and your conjecture that that's where the money is going.

Also in television there is much less competition. The TelCos are the worst monopolies out there. Getting a competitive cable or ISP landscape is a laughable idea in the US.