That's true, but only juuuuust enough to keep the advertisers paying. There is no incentive for a monopoly like Google to provide better service for their customers (their customers are the advertisers) than the bare minimum, since they have no meaningful competition.
I don't see how slop could kill "the internet", but it is already redefining if not outright killing the big social media platforms. The fediverse is probably safe because instances that allow slop (or struggle to moderate it) would just get defederated same as any other spam/trolls.
In case anyone was confused like me, this is the UK Green party.