Honestly, DC and Marvel's decline started before they went woke. I love superheroes, but the nonsensical continuity, combined with frequent resets made it hard to really get into comics. I have some heroes, authors, and storylines that I really like. But it was hard to be a reader who kept up with things.

Compare that with manga, where each story is written by one author and is usually only running for a finite story. Manga is also cheaper than comics.

DC and Marvel were already in a decline, but wokeness was the kill shot. The MCU should have saved Marvel comics, but Marvel pissed away a golden opportunity by not featuring the characters who were popular in film in their comics.