That said, I don't have any real insight into the tourism market and won't be shocked if this works out well for Airbnb. I personally try to avoid crowded tourist spots like the plague and this could just be my bias talking.
For a lot of people, "tourist trap" doesn't register as a thing - those are just the things you _do_ when you go to whatever place you're going to.
If Airbnb becomes the safe, convenient, well-marketed way to discover reputable but not stereotypical local experiences in a marketplace that takes your credit card, they could do well IMO.
AirBNB aren't the first people to try this, but they're pretty well placed brand-wise to sell the 'real local experience curated by ordinary local people' image. And yes, in practice it'll leverage that to sell standard tourist activities and some customers will be delighted, just like they use AirBNB to find ideally situated self-catering holiday apartments run as businesses rather than airbeds in suburban spare rooms
The margins on flights and attraction tickets are tiny as you might expect, but the idea was this would lead to more growth in our core business since it could all be tied together in one platform. There's also the less well defined but non-zero benefit of data, marketing and so on that this extra visibility provides.
Although the experiences I saw were either around (vegan) cooking and stuff or the general stuff that you can book at a normal tourist agency, just a lot more expensive.
Nothing too interesting, just expensive but YMMV.
I remember a talk by Brian Chesky where he lamented the (pre-COVID) style of travel where tourists just herd into queues at mainstream tourist attractions. Airbnb experiences are supposed to subvert this and create an industry of tourism that is more serendipitous and less standardized.