The amount of websites isn't what eventually consolidated. Internet traffic did, and the value of domains went way down. That's why it's described as a bubble.
The vast majority of businesses don't own domains and host their own websites which is what the .com bubble was. They host pages on Etsy, Facebook, squarespace, WordPress etc etc.
The modern tech industry is all about building products that generate hype to impress the shareholders. Building good functional products to impress the consumer isn't necessary if you can simply put on a flashy show for the geriatric billionaires.
They'll do that anyway. They engage only in ideological proclamation, not critical analysis. They think truth is dictated by consensus.
You deal with these people by disenfranchising them and removing their opportunities to gain power, not by engaging them directly in debate. Never engage with an echo chamber if you don't want the ideology of that echo chamber to infect others like a virus.
The whole problem with companies like Amazon is that hardly anyone in charge of them seems to care about long term sustainability. They all just invest enough effort to squeeze out some short term profits, earn their bonuses and then leave for another company to do it all again. Nobody is interested in sustainability because there is no incentive to. They're playing hot potato with the collapse of the company.
Now they can replace them without paying unemployment and pay the new workers a lower wage. This is what they wanted to happen. Mega corporations are a problem we need to solve as a society.
https://github.com/nadeoki/win10enterpriseguide