Thank you for your rebuttal of Max Anderson’s X post. Other tech guys (not ad experts like you) replied to his original post, making somewhat overlapping claims less about the concepts you rebutted but about Alphabet ads for them now having a worse cost-benefit than they did years ago. Are these advertisers doing something wrong, is this just the price of ads better converging on their value, or is there another effect that explains their experience?

There are a few effects at play:

1. little incentive for people who are seeing great results with Google Search to chime in
2. product improvements aren't universally beneficial for all advertisers. Some advertisers will be crowded out of auctions as targeting improves.