Cory Doctorow calls it "enshittification" and I think its fitting as well

https://www.reddit.com/r/medicine/comments/10hyf7m/cory_doctorow_explains_the_enshitification_of/

He mostly talks about tech, but it could be applied to any business

> Enshittification is "...a seemingly inevitable consequence arising from the combination of the ease of changing how a platform allocates value, combined with the nature of a "two sided market," where a platform sits between buyers and sellers, hold each hostage to the other, raking off an ever-larger share of the value that passes between them."