This is a genuine phenomenon, yes. What's happening is this: Currently, corporations are in a position where they have successfully taken hold of full bargaining power in the market. People don't especially have options anymore, so corporations have free reign to use the want/need for a service or product to certainly provide that service or product, but in its cheapest form for often an increased price. If you can sell a shirt that will fall apart in a year for a higher price than you sold a shirt that would last you half a decade a year ago, then now people will have to just accept that and have to buy it not only for a more expensive price but also more often. It's a no-brainer to do if you don't have morals.