The internet and accessibility killed it tbh. Back then you needed to have some talent/skill to get on.
Now anyone can just hook up a mic to their computer, download a beat off YouTube and possibly go viral. And with lyrics not even mattering anymore, what real skill do you need to be a rapper in 2025?
They don’t make beats. You don’t need to spend any time honing your writing ability. You don’t need singing ability since the engineer can adjust your voice with autotune.
I blame Jay-Z and Wayne as well too. They made the whole “not writing rhymes” thing popular which lead into lyrics being and afterthought. This is why the local shooter or weed carrier can just hop in the booth and become famous. These dudes aren’t really songwriters. They have no real background in music. None in poetry. They didn’t spend years refining their writing ability, so of course the quality of the music drops as a result.