Yes, while Mr. Doctorow isn’t interested in policing any language, including the term “enshittification”, it was originally a process of how platforms are first good, to attract users, then bad, betraying their users for advertisers and/or suppliers, then worse, betraying their advertisers/suppliers for their investors, and ultimately they provide the cheapest/worst service possible to just barely keep users and advertisers/suppliers using the platform, advertisers/suppliers locked in to the user base, and users locked in due to a lack of interoperability or effective monopoly.

It’s related to “chokepoint capitalism” and to a lesser extent “technofuedalism”.