The business will certainly crash and burn into irrelevance. But I think the world is actually just a tiny bit better without onlyfans existing. So it's a net win for humanity.
Almost all porn companies are really sleazy and have sketchy business practices. The site isn't really good for anybody.
For men, it's like an addictive drug. For some very lonely men, it offers apparent companionship, but it's all fake and exploitative. Like gambling or videogames, there are "whales" who spend stupendous amounts of money on this. I doubt most of them are really proud or happy with what they're doing.
For women, it's degrading and gives a warped perspective on what's normal behavior. They're constantly encountering creeps and getting requests that cross their personal bounds of comfort but consider for the money. Like other social media, it leads to jealousy comparing to others. It's also a race to the bottom; a woman in Thailand might be super content camming for $50 per day, so rates. Young women will inevitably be competing with this and get what might seem like a lucrative trade for giving up their dignity could lead to a trap if they spend a few years camming and then have no skills for a career but now face competition from all around the world.
None of this is good for mental health. These leave marks on both men and women. Some things just aren't better commercialized.
Just as the site is going downhill..