It absolutely does. I've never met anyone with a positive opinion of Oracle, and I know many companies avoid dealing with Oracle.

I think this strategy only works if you have enough marketshare and vendor lock-in that customers can't easily leave and you have enough money that you can get new customers by acquiring other companies.

The primary product of these enshitified companies is a perpetually rising stock price. Beyond a certain size it becomes more profitable to play bureaucratic, legal, financial, and other corporate games at the expense of the nominal service that's being sold.

They're a bizarre economic phenomenon. They basically sell casino chips (stocks) and use bureaucracy (friction and complexity), PR (lies), and intimidation to goose their value.