I used to work for one of the big Internet companies when we came out with the Personals product. We poured over the data constantly, mostly because the thing was so insanely cheap to make (2 devs, 1 ued, 1 pm, 3 months) and so insanely lucrative.
Basically, there were two types of sites: data/matrix driven where you could get a ton of results and filter them as you saw fit, and algorithm driven, where you would get a select number of profiles presented that you could either interact with (swipe right) or deny (swipe left).
The first kind generally suffered from a very simple problem: people don't meet and like people because of data. We couldn't figure out why people like people, because we didn't see that part of the equation, but we saw that the data driven approach pushed people into being too selective on the data, ending up with really unrealistic expectations, and correspondingly with people increasingly lying to match those expectations. We could tell both, because we could see the filters (e.g. the scary number of men in their 50s having 25 as max age for their dates) and the distribution of the data, that didn't match any normal distribution (e.g. the remarkable doubling of people with ages ending in 9).
The algorithm-driven approach suffers from doom scroll syndrome. Since you are separated from the perfect person for you by a bunch of "losers" in the way, you scroll over them quickly to get to the good stuff. Nobody gets the time they deserve, and while the algorithmic approach doesn't allow you to filter unrealistically, it gives you impatience and makes the unrealistic expectations worse.
Unrealistic expectations breed lies. If only the impossible is good enough for you, only the liar can deliver.
I left as we were discussing a blended approach: the algorithm presents a grid of potential mates it selects for you, but you can see them all (a thumb, at least) and interact with each independently. Then the company hit trouble and Personals was frozen in time.
My takeaway: for a change, capitalism and monetization are not the core problem. People's sense of entitlement is.