The problem when a creative niche gets flooded with low quality ripoffs is that people end up fed up with the entire genre.
Plus even that aside, people often crave change. No genre of music has ever remained entirely static. And all styles of music comes in and out of fashion.
I don't know that much about current music, but I do spend a lot of time listening to LoFi study girl live stream, is that music the genre being discussed here? Perhaps it's just the normal hype cycle and then things settle out? Innovation, enthusiasm, copy cats, burn out, a solid genre for decades?