I am going to take a contrarian position, though I understand the concern.
A while back I was more busy answering questions, for Python and had set up the following query.
[python] score:1 hasaccepted:no closed:no
(and a bunch of removals of Python libs that gets a lot of interest, but don't concern me in the least. -[libXXX] -[libXYZ])
Notice the score:1. It was there because the site was overwhelmed with questions of dubious quality from rep. 1 first time users. That was happening both due to SO's increasing popularity and the Python language now attracting so many beginners (which is a good thing and which the Python community, rightly, treasures). I suspect [javascript] would have had the same problem.
In fact, if you were to look at the incoming [Python] questions just a short while back, without the score:1 filter...
Run this query - without the score filter - and you'd be overwhelmed with a question every minute or so, typically not great quality (not just lacking in styling) from rep-1 users.
Or you know, good questions, but duplicates, from a new user who didn't really understand how to search effectively before asking.
And if you look at the historical user rankings, you will find that a huge proportion of the site's users has been rep. 1 users who only ever posted one question. If someone answered, likely as not it was never accepted. Never upvoted either since I assume few users bothered even looking (and because many are loath to upvote another answer when they've answered a question, preferring to maximize their answer's ranking). I actively tried to find a query criteria to filter on user reputation, never found it, so eventually I settled on eyeballing rep.50+ and ignoring the rest.
The score filter served my purposes, but it wasn't healthy. If everyone applied that logic, all the questions would languish.
Run the same query now and you can see a question every hour or so. With the 1-rep users being about half the volume, not 70-80+% of it.
Now, we do have a well-deserved reputation for being elitist and snobby at times. Some of these rep 1 users that never came were indeed ill-treated and had not learned to grow a thick skin yet. That is something we really ought to address. I have had it happen to me and you learn to ignore, even when it comes from a moderator (most are OK, not all).
(We should nurture and assist new users, since the volume is much more manageable)
Many, many, of these questions were just noise. I don't miss them.
Maybe the site's owners do, since eyeballs reign supreme, but that's not my concern. I don't care to answer someone's homework questions. Or something trivially basic about Python. That's a large part of why I stopped answering questions on the incoming stuff. Most of my answers nowadays tend to be on older questions that I find when researching stuff for my own concerns.
Some of those questions are just not a great fit here, no matter the hoops that get jumped through. And from the high proportion of one-question-never-came-back users, I question how much value SO was getting from them.
ChatGPT is... not bad.
If ChatGPT answers their very basic questions, good for them. And, to be honest, they are probably better off from it than when they were asking here and not getting answers (or, getting closed as duplicates, which is an unpleasant first time experience).
I am sitting on the fence regarding current LLMs. They are neither very clever, nor very stupid. For many of the over-simplistic / duplicate questions that used to come in, ChatGPT or another coding LLMs are quite capable of providing OK answers. Maybe it will make some mistakes. But in my own experience asking simple coding questions about languages or topics I lack familiarity in mostly gives good-enough results: we are not helping these people for those questions. Even if users here were patiently and diligently answering them, the turnaround time is 100x that of an LLM.
Future?
Maybe SO needs to position itself to be a second-level Q&A site, serving users after their first, LLM, pass. In turn, reselling content to LLM providers might of more value, given a higher wheat-to-chaff proportion. If the site could function at lower volume levels, why can't it do so now, with possibly better content and with better name recognition? Possibly it might require fewer staff and that is regrettable, but not the end of the site itself.
SO's value proposition is as the place for Q&A with humans. Not competing with LLMs, even if volume goes down. Competitors are Reddit and Quora and fragmentation and competition is to be watched in that space. Comparisons with dinosaur moments like BlackBerry vs iPhone are misplaced. Not even Kodak vs digital cameras which seems like a more appropriate metaphor, but is also wanting. SO "just" needs to accept that its volumes will go down and learn to position itself judiciously in the new world. And, yes, that probably means not flailing about and finding sustainable ways to monetize the site.
And finding ways to be a lot more approachable to new users. By helping those asking good questions. By being kind to those asking bad questions in good faith.
BTW In the comments below, I've mentioned YouTube several times, and more precisely, reading video comments to get outsiders' perspective. This one is recent, shows this graph and is as good as any: The death of StackOverflow. Don't know the channel, not promoting it, disagree with his interpretation of duplicates being a "personal affront / RTFM". Disagree with a lot, but it is illustrative of a lot of sentiment out there and that sentiment is not necessarily wrong.
PostsWithDeletedto get the post counts for stuff like this.