That was never the argument, the internet was always international and not just American.
The issue is language, the assumption is English spoken content is assumed to be American or possibly british/Australian.
I’d like to see that get more fluid, but that probably involves a lot of people speaking more English or more autotranslate kicking in.
Interest rates going up means investors are demanding more profit so all the tricks web companies have held off on till now are coming out.