I remember in the first dot-com bust, CPMs/CPCs fell like a rock, so everyone was cramming more ads onto pages to make up for it, which added a lot more invento

I remember in the first dot-com bust, CPMs/CPCs fell like a rock, so everyone was cramming more ads onto pages to make up for it, which added a lot more inventory, which caused them to fall further. The market is much, much bigger these days, but I wonder if something similar (if smaller) will happen as everyone scrambles to monetize and increase revenue.