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When my dumbest friends on social media and IRL were coming up and saying “oh I’m in IT just like you” I feel safe saying it wasn’t a conspiracy and just too many damn people in the field.
IT was particularly oversaturated, but STEM as a whole has been hit pretty hard. There's no startup money left so you either got established and are no doing government contracts, are somehow still convincing other billionaires to give you money because you're a billionaire(the last place I worked at), or just shut down. The tech bubble burst. With interest rates up and the economy on the edge, money is "better" put into buying real estate. Buy single family homes and rent them. Buy franchises for the land, sell the company, the lease the property.