I doubt there's even a cost cut here. They're most likely still doing the work, just not making it available.

I think that's still just "what businesses do in general", enshittification is specifically:

1. Offer a great service as a middleman so users want to use your platform and customers want to sell through it (i.e. get the market share)
2. Once the users are used to using it and are sort of locked in, crank up the costs so your customers get their returns
3. One they are locked in, crank up the costs for them so you profit

From the original post that defined it:

First, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die.