Interesting... I never got into Ubuntu because of the look but everything I read about it sounds like a headache. I've totally seen the exact cycle you described multiple times.
I actually am okay with the appearance, but there is just way too much emphasis on doing things that the user base doesn't care about, instead of actually fixing bugs with the product and solidifying it. Which, okay, I guess some folks are fine with that, but being the most popular distro, why try to drive so much innovation at the expense of stability?
I just revisited it a short while ago on hardware that had actual 16.04 compatibility confirmed by vendor back in the day and it was a battery hog and a call tracing dumpster fire on 23.10. Then I switch to Debian 12 and not a single problem. I don't get it.
Some guy lost a good chunk of his crypto bullshit because there was a scam wallet on the Snap Store. I believe Popey did an audit of it and called it to the attention of the admins who removed it. It came back.