Jimmy the GOAT.
I'd argue the industry never stopped doing that, the problem is most of the new artists aren't good or building success (fanbase, memorable albums, hits, etc) so they don't have the infrastructure to build off it. How many bubbling artists has Drake assisted over the last 15 years? A whole bunch. Every time the next big Atlanta rapper appears, the entire industry is there to give and receive features. How many bubbling r&b chicks has Chris Brown worked with over the last decade? A lot.
The problem is that artist development is dead and labels have the means to rake in wild amounts of cash whether new artists are popping or not (streaming). Previous decades often had to deal with the question of "how do I sell albums via this latest technology." Records, cassettes, CDs, iTunes, etc. There was always a pipeline of artists being developed, bands being scouted, singers cultivated, etc. Look at Olivia Rodrigo today. Another Disney kid who is now the biggest young singer in America. 23 years ago there were over a dozen Olivia Rodrigos either popping or soon to be popping. Now you don't see that much commitment anywhere, and from the label perspective why lift a finger to change anything when they're still eating off the old catalogs. Britney Spears has over 30mil monthly Spotify streams a month lol.