I read PET actually is recycled extensively. I mean, you need to recycle it, but it's economically viable to actually recycle it rather than just make it "someone else's problem".
Iirc it gets downcycled, not recycled. You can't make bottles out of it anymore, it goes into textiles or something. And that's in the highly optimistic case in which it makes it to a recycling center, which doesn't happen for 80% of plastic.