I think there's still enough inertia in the first world and onboarding in the 3rd world to keep revenues going, but their PEs will be compressed, why bid up a risk asset with expensive cash flows when you you can go get a value stock paying dividents or trade bonds?
I think the woke-ism has definitely started to eat into their ad model for sure, as a marketer myself, having had to use these platforms to earn a living, I can say I won't be sad to see them die, too many marketers are making a living off blasting shit in peoples eyeballs