I'm thinking the same way smartphones are solved where only small increments of improvement happen. Radical changes happenen, like folding phones or the rise of Tiktok. Some have long lasting problems like the former, but the latter managed to pick a fight with the giants and come out on top.
Back to market terms, they're mature but new players have proven to disrupt the market. When the general public start caring about privacy, federated social media will rise. Seeing how that is quite a politicised thing, progress will be slow. I'd love to be proven wrong though.