Influencer led makeup brands - what’s happened to some of the biggest in the industry?

Makeup brand Morphe is closing all its US stores. It has been struggling with sales of lines tied to Jeffree Star and James Charles. This is interesting to me as the tidal wave of heavy makeup looks, akin to looks you see on Drag Queens, is on its way out, this was such a popular look from around 2016 to 2019.
Gen Z are favouring a much more natural look, I’ve noticed this age group are much more about BB cream, lipgloss and a much softer look overall. When you study the looks (and fads) throughout the decades since the 1920’s (which was when the film industry was born and the need for makeup on newly minted movie stars, became a necessity) - I’ve noticed that the pendulum seems to swing from decade to decade. For example - the heavy, dark smokey eye, pale complexion and dark ‘Betty Boop’ lip shape of the 1920’s gave way to a much more natural look in the 1930’s, where the smokey eye was completely gone, eye makeup was more about a soft eyeliner, brows became very thin and rounded up (the hallmark of the 30’s look), complexions went back to being a natural shade and lip shape also was not altered and was a raspberry colour as opposed to dark shade in the decade before. This is just one example of swinging from one end to the other on the level of heaviness to softness.
It has just happened recently now too - from heavy, drag-like, tonnes of makeup (all over the face!) - to a much more softer, organic, natural look now favoured. I do notice that the heavy lash extensions are still a ‘thing’, but the overall look is almost polar opposite to what we have been seeing, particularly pre-pandemic.
With my makeup course students, I always warn of only being able to do the latest ‘fad’ makeup - once the fad passes (and it will!) - you now have a makeup portfolio, or social media feed full of looks that has an ever diminishing market, that dates your work and limits your long term success in the industry.
When I look at the top echelon of makeup artists in the world, the ones that are working with the top brands and regularly booked by A-List Celebrities, I have never seen these looks! It is always a sophisticated, timeless (which is key!) and flawless look. This never dates and the demand for someone with these abilities will always be high. Hence why they are working for the most prestigious brands and celebrities the world over - consistently, and over decades!