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One of the best critiques of "rational markets" theory I've ever seen, from Cory Doctorow.
It may be true that in the long run businesses that destroy value and enshittify goods and services will inevitably fail (although, then again, it may not, since most industries are cartelized between a handful of firms that share the same business model, so none of them suffers any competitive penalty).
But in any case, businesses can run a long, long time before the bill comes due. And in the meantime, a lot of vulture capitalists can make one hell of a lot of money off them before dumping what's left of them onto the suckers. https://pluralistic.net/2023/08/10/smartest-guys-in-the-room/