It has nothing to do with debt, wealth or earnings. Completely independent things. People had it worse at every time in history in almost every place.
It has nothing to do with social media / internet. It just something people tend to fall into when they withdraw, and have no trouble abandoning as soon as the life outside becomes tenable again.
Eventually it's easier to just agree with them and do your best than waste even more time arguing with them. Eventually you fail to ship or you ship a buggy mess. The software engineers know the code quality is shit but they don't have time to think or set anything up.
If you are asking it to do stuff from scratch like most of us do on ChatGPT, it’s quite a pain
A big portion of the PHP stats (number of web sites using it) come from WordPress. While WP sites need less development than sites built from scratch, or with Laravel, they still need maintenance, custom code, and system administration. Someone who can keep a WP site humming and enhance it can find plenty of work.
If you can't find suitable work that has very little to do with a programming language. Businesses don't need more PHP code. They need people who can add business value and deliver on requirements. Programming languages are almost incidental in the big picture. My advice is to focus on selling yourself based on the value you offer to an employer or customer, not on a language.
Also, it seems to be that information that is helpful just doesn't like to be contained. Comparing with StackOverflow, its popularity didn't make developers less likely to participate in the community. Instead it made programming more approachable to a much larger pool of people and more software were created, which made our life easier. If something is intended to be used only for consumption (media) it tend to say closed. But if something can become a building block for others, people generally seem to want it to spread.