I do wonder despite the flaws of the old system, was there something genuine lost?

You had to actually “hunt” down what you wanted to watch, make discoveries, build context and knowledge to what you want to watch / listen to. IMO the “hunt” is part of the joy in the same way as perhaps building a PC is a big part of the whole gaming enjoyment and at the end of it you can sit down and fully emerse yourself into the art. Now? You are presented with an almost infinite choice of what to get spoon-fed and I feel it de-incentivizes everything. The distinction between music and noise isn’t about the physical properties of sound. Instead, it depends on how we perceive and assign meaning to what we hear. My point is, it’s harder to create that meaning these days.

They did touch upon this in the video. Seems like the new streaming model creates a passive, scrolling consumer rather than an engaged enthusiast where “art” becomes just disposable content pushed by algorithms.

Also, streaming pushes you to over-consume on stuff, which causes the same problems.