I don't know who you think "we" is, but I certainly understand that, the problem is that the OP doesn't. "The internet" here means what a layperson thinks, it is the content not the nuts and bolts. The internet is what you interact with, not the phone line you use to do so. No one advocates that data services should die.
"We just want web 1.0 back"
No, we don't. Ignorance is what has created the mess, it will not be the solution to it. Your opinion is based on your assumed personal superiority, an assumption at odds with your simplistic view.
There is no accountability on the internet, by design. Until that changes, "the internet" will be corrupt and "we", as in you, continue to think that's the right answer. Web 1.0 had no accountability, that was the part preserved to enable the corruption we face.
I have been saying these things since the 90's, for at least 30 years. Greed and corruption was apparent then, all that has changed is how obvious the social damage is. Back then, the enthusiasm was directed to how to exploit ad revenue devices to take money while providing no product or service, literally pure greed. That was what drove the internet then and drives the internet now, a return to "Web 1.0" does nothing to fix that even if it makes you feel better about yourself.
It should also be understood that it's not just "the internet". The computer revolution was driven by opportunities to improve productivity, people was interested because they cared what they could do. Computers and applications were driven by improved capability and that's what computer sciences focused on. That is not true today, instead computing is oriented around exploitation and corporate profit and that is now what computer sciences focus on. That's why modern software development sucks, it's entirely greed-driven. AI is the same, research used to focus on capability, now it's money grab.