Once a platform becomes big enough I'd imagine you're guaranteed a regression to the mean. Your user persona becomes "everyone" so you design for "everyone" instead of the community that made the site unique. I'd imagine this is especially true if your leadership changes out after some sort of monetary event and you start looking at your typical metrics like new users onboarded, or DAU, rather than continuing to do new things.

I'm imagining all this because I've never done it, and it must be hard to do it and certainly impossible to please this crowd anyway, but I can see how it happens.