"industry worked out a way to sell you air at the price of cream and eggs" would be a more accurate distillation. They haven't reduced the quality of the product because the ingredients got expensive; they've reduced the quality because they worked how to sell you less for the same money, which results in more profit.
If the law banned 'frozen dairy dessert' they'd go back to selling the higher quality product, probably at a similar price to the worse product (price elasticity being a thing and all.) The only reason they sell the worse product is because they can, and they can because they hide the fact they're selling half a tub of air.
Ignoring the obvious flaws in the writing and the prose, I find it interesting because it’s one of the more obvious examples of enshittification that plagues American culture - often in ways that are so subtle that one might be considered paranoid for trying to recognize them. It lays bare, in a way that any American can understand (most Americans eat and enjoy ice cream) the consequences of the never ending treadmill of corporate greed
I think that's extremely ungenerous and misses the point of the article.
The article is specific in the mechanisms by which the industry has changed formulae -- adding air, gums, and stabilizers. It also includes information about who the offending companies are (Unilever). It includes information about how many calories per cup indicate a high quality ice cream, as well as the legally required labeling you can use to recognize not-quite-ice cream.
It also specifically addresses the "cream is expensive" concern, and discusses dairy prices which have fluctuated but not spiked.
No, this is greed and "the customer is a fool who won't notice". The products of capitalism run to a point where there's basically no recourse (short of, I suppose, manufacturing the ice cream yourself) because everything's become one giant megacorp who knows you don't really have much of a choice in brands.
If the law banned 'frozen dairy dessert' they'd go back to selling the higher quality product, probably at a similar price to the worse product (price elasticity being a thing and all.) The only reason they sell the worse product is because they can, and they can because they hide the fact they're selling half a tub of air.