Telegram started that way but as they became so big, the process of Enshittification has now begin. It happens to all tech platforms that become too big.
Here is how platforms die: First, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die.
It has become pretty famous and made the word Enshittification pretty known in some circles. It's the perfect description of what we see around us now.