I also think (though don't have the numbers) that there are many more hobby sites now than there were in, say, 1995, because the whole web is so much bigger. They're just far smaller portion of what you're likely to encounter.
I severely doubt this. 1995-2004(?), essentially pre-myspace, was an era when many of us had a homepage as a hobby; some went into blogging as well, but still on their own site.
Compare it to the web today: everyone is posting content* on silos and a most don't event bother thinking of a website. Convenience, they say, but reality is that everyone thinks they might be able to make a living out of that hobby.
Let me quote a comment from this very site: "It's a shame to ruin a perfectly good hobby by making it a job." - https://news.ycombinator.com/item?id=19728367
* "content" in the context of silos is a tricky thing to be honest. When was the last time you saw real, true, honest content, without an agenda, without cat videos, without selfies, on a modern content silo? When I say modern, I mean Facebook, Twitter, Instagram; WordPress and Tumblr are different, being more like providers of websites.
I know lots of people with websites (ex: my own, https://jefftk.com) and a lot of this is it's so much easier and cheaper now. You don't have to be a sysadmin or be friends with one, domains cost 10x less than they used to, many more people have internet access, etc.
> When was the last time you saw real, true, honest content, without an agenda, without cat videos, without selfies, on a modern content silo?
I think it depends a lot who your friends are, what subcultures you're in, and how you choose who to follow. My Facebook feed is mostly my friends talking about interesting things and I like it a lot.
It's the other way around. When there is no compensation, people do stuff for fun, out of love, and not for optimisation, ROI, DAU/MAU, etc.
"Back in the days" - pre-dot-com - the website was part of the hobby. People wanted to put their knowledge out there, maybe for pride, maybe just "why not?". And the site was theirs, it looked the way they wanted, it was organised they way they were thinking[^1]. But when money comes in, one has to deal with making more visitors, making the site according to trends, with negative space material auto dark/light design, constantly and regularly put in updates, add JSON-LD microdata... it's endless. And the fun dies. On platforms, everything looks the same, it doesn't feel like a home any more, it's not yours. It's a job.
This is what kills quirky, niche little sites and communities.
[^1]: https://stackingthebricks.com/how-blogs-broke-the-web/