I suppose at some point there were business people who noticed that planned obsolescence creates repeat purchases, and that pricing is an arbitrary thing so they can sell the same hyper-optimized crap on different price tiers and people mostly won't notice - but I think the main driving force wasn't malice, just the usual thing that happens in the market economy.
In this way, I see the period of 1960s - 1990s as a time of discovering new ways to cheap out on materials and construction. After all, optimizing for manufacturing costs takes time and lots of smarts. Barely working crap doesn't happen by default (conversely, and this reminds me of the discussions around Juicero teardown, the initial design of any working appliance will likely be heavily overengineered).
No, old gear was definitely constructed better. I've repaired many appliances over the years and stuff from the 60's was built to last with a noticeable degradation in quality over the 70's and the 80's, since the 90's it's pretty much a constant. There is absolutely no way that a household appliance made after 1975 lasts for 60 years.