It does not suck for consumers, maybe for some but not as a whole. I rented cabins in cali for a lot cheaper depending on location and other types of properties. I think you're probably looking for vrbo.
Hotels of a similar price have less space and you have to deal with a lot of hassle and less privacy. Rentals before airbnb required interacting with renters and dealing with them a lot more, I have no problem paying more to avoid that mess. It is also safer in my experience and allows me to pick from a wider range of options.
My theory is that consumers (not neccesarily you) that figured things out and where the socio-economical landscape was suitable for them dislike stuff like uber, airbnb and uber-eats but it also opened up goods and services for people that are willing to pay but these things were made complex and inaccessible to benefit middle men and other interested parties.
Hotel staff get in, for most needs you have to go out of your room. With airbnb, unless you choose a private room, renting the whole house or apartment means you don't have to worry about other people. Of course like hotels there are bad airbnb hosts that spy on you or intrude on your stay (that's what reviews and ratings are for)
Hotels of a similar price have less space and you have to deal with a lot of hassle and less privacy. Rentals before airbnb required interacting with renters and dealing with them a lot more, I have no problem paying more to avoid that mess. It is also safer in my experience and allows me to pick from a wider range of options.
My theory is that consumers (not neccesarily you) that figured things out and where the socio-economical landscape was suitable for them dislike stuff like uber, airbnb and uber-eats but it also opened up goods and services for people that are willing to pay but these things were made complex and inaccessible to benefit middle men and other interested parties.