What surprises me is that they didn't do it sooner. Maybe they finally ran out of vulture capital money, but even if they were still funded, it would have happened anyways. Enshitification is entropy for businesses, it's an inevitable force of nature.
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https://shlink.io/ For an open source alternative ;) (mentioned in the article but thought it's good to post it here too)
My take: don't use short links whenever possible. Them being open source doesn't protect from going out of business and choosing not to renew the domain, breaking all existing links. Heck, it doesn't even guarantee they won't change their minds later and choose to run different, non-open software on their server which snoops on or adds ads to people's links.
Welcome! This is a community for all those who are interested in protecting their privacy.
PS: Don't be a smartass and try to game the system, we'll know if you're breaking the rules when we see it!
Some of these are only vaguely related, but great communities.