This is certainly one conclusion that could be drawn.

Another conclusion could be that as building software gets easier (like it did for ex in the 90s and again in the 2010s), opportunities are created for new entrants to displace Bad Old Software.

Those expensive Enterprise apps that everybody hates? Are absolutely begging to be replaced by something better for half the money.

We still live in a world where most individuals own more compute power than most universities did in the '80s, yet the only sign of automation is useless push notifications.

Data behind one pane of glass can't easily be moved to data behind a second pane of glass. Simple stuff like "move my Instacart shopping cart to Costco.com same-day" is a manual affair. This is a subset of the general problem that more apps has resulted in more data silos that are generally isolated, without APIs, without automation.

There are zillions of problems out there for which people will pay money, but money chases the same 4-5 problems at a time. Just work on one of the other ones.