I’d say this is a more nuanced and sophisticated explanation of the same dynamic the person you’re responding to is getting at. Yes there is no “cabal” as in a smoke-filled room where shadowy figures make the decision. But, in practice, the net effect is that of a large genetic algorithm settling on an approved trend that it then uses its market power to push people towards.

And, of course, the more the industry is consolidated the more “directed” it will seem.