One word: AI.
I still manage to snag a lone project (maybe 4 a year max) now and then, what the clients have told me is that the applications process is a nightmare. The responses are riddled with AI bots, so there are probably still only 20 humans amongst the 70 applications, do you want to read through 70 essays hoping you will find a human? And let's say you found a human, will they do the work, or will the product be AI generated?
CGTrader HQ gets hard at the thought of deleting the custom 3d section and just offering all the services themselves, they tried this already with wildcat, then when that didn't work, the prices for the freelancing went up, and if you think back, that was the beginning of the end. The only logic next step for CGTrader to save their own company is to train their own AI on all the models uploaded to their servers and have their own AI take every last penny. No more sales, no more freelance, just ask what you want and it generates it. It's coming, just wait.
At this stage your models on the internet serve one purpose: to train AI on how to replace you.