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Lemmy cannot be part of that same cycle because it has no owner. Those other services turning to shit coincided with them getting big, but it was not the direct cause. Those sites got big because they had a desirable service and an acceptable monetization model. Once they get big, the owner invariably turns the monetization screws more and more until it triggers an exodus big enough to effectively kill the service.
Lemmy can't do that because its just a foss self-hosted software program that a bunch of private individuals and groups are hosting and inviting us to join, with barely extant trivial barriers to migrating your account and history to another copy of Lemmy on some other guy's server.
The quality may diminish as the lowest common denominator deteriorates, but there can't really ever be monetization that is at all onerous or everyone will likely bail to a neighboring instance overnight.