Damn that is a pivot and a half 95% down in revenue, great that subscriptions worked for them, but not every site can pivot to subs, theres only so many people willing to pay for content and they have limited resources in allocating to subs, so even their solution will see sites who pivotted to it still die.

Programmatic isn't totally dead, but if you're only relying on Googles GDN you're not going to have a fun time, you need to add more networks, get direct campaigns and build direct channels like email or like a telegram or discord where you have direct access to your user base, social media apps demote links like a mofo

Also a lot of programmatic buyers are curating who they bid on, and adding exclusions based on political leanings and the type of content you produce