Airbnb is a fine example of a sort of variation on enshittification.
The way it works is a new company with a new and notably cost-effective way of doing things comes along and is unsurprisingly wildly successful. And then, inevitably, that leads to them hiring a whole raft of executive parasites who all have to be paid obscene salaries for doing nothing of any real value, which means the company needs to raise prices and cut back on services in order to generate more profit to pay those salaries. And meanwhile, the new executives, with nothing of any note that they actually need to or even can do, but with a need to create some illusion that they’re necessary, have pointless meetings in which they propose and wrangle about and eventually approve and implement new policies and new plans that are generally awful.
And pretty quickly and not coincidentally the new company ends up at least as bloated, mismanaged, overpriced and under-performing as the companies they so recently replaced.
See also: Uber, DoorDash and the entire streaming industry.