It is, and it's not just the search engines to blame.
The content out there is incredibly spammy. It doesn't pay to create good content. It pays to make a pool of AI gunge based on what people search for and then stick ads on it.
Spam sites laden with key words and massive SEO to farm advertising dollars from clicks long predated AI
It doesnt help that big search engines like google have realized people will go as far as page 2 or 3 to find the results, so intentionally worsen their search results to increase ads being served.