Frank Zappa put it this way [paraphrased]
In the 1960s the music execs were into Frank Sinatra and Duke Ellington. They had no idea what was going on, so they just threw money at any band that came along. You had a wide variety of music.
The first set of execs hired young guys who 'knew what the kids want.' Those guys played it safe, so in the 1970s you had stadium rock and disco.
Now AI 'knows' exactly what people want.