If PE buys something that doesn't have a moat then they can't enshittify it because the customers would immediately switch to alternatives. They often still bu

If PE buys something that doesn't have a moat then they can't enshittify it because the customers would immediately switch to alternatives. They often still buy those things, e.g. when there is a failing company in a competitive market that could do better with new management, but then no one complains about it because they're not making the product worse (and can't because there is actual competition).