This is why capitalism is stupid at its core. It doesn't promote anything good. It only promotes greed and enriching the top. Make the shittiest product you possibly can that people will buy, buy out every other maker of product, repopulate the sector with fake brands to give people illusion of choice.

Oldest trick in the book. And literally not 1 person I know can see through this trickery.

In capitalism making a long lasting good product is not viable at all, it makes no sense. Who gives a shit if your great grandkid is still using your oven 60 years later, the shareholders dont benefit then. Out of business. Its an idiotic system kept alive only by propaganda.

The real reason was private equity

Private equity made things a lot worse. In 2019, Instant Brands was acquired by Cornell Capital and unceremoniously merged with Corelle Brands, a housewares company that includes Pyrex. An acquisition by a private equity firm brings certain expectations with it—namely: lots and lots of fast growth.

https://www.bonappetit.com/story/instant-pot-bankrupt

Yeah it’s a right dilemma. Because on one hand, I feel like they should make products to the highest quality if they can so that the consumer has to spend less money, but at the same time if it leads to the company going bankrupt, what of the workers and their families?