Zillow’s claim to fame was they were the first major real estate data aggregator site, at least that didn’t require subscription or credentials to access.
The thing about the web is first is rarely best. I like Trulia and Redfin better than Zillow, they provide very similar services but in more advanced ways. Both also came along late enough in the real estate bubble not to have a terrible paper trail like some of zillow’s Zestimates.
Without knowing the details of their business model I can’t say anything else definitive, but obviously they have significantly increased competition than when they started.