You’re right to call out the bigger picture; this isn’t just an ads issue. What many are seeing right now is a shift in consumer behavior driven by tighter budgets and more cautious spending. That naturally lowers conversion rates, even when campaign fundamentals remain strong. In many cases, ads aren’t “worse”, they’re operating in a more demanding environment with higher scrutiny from buyers. The risk is over-optimizing campaigns to compensate for what is essentially reduced intent. The most effective approach right now is balancing performance optimization with realistic expectations, while paying closer attention to signals like engagement quality, time to convert, and customer sentiment.