I call this the digital drought. Everyone knew it was happening but remained too comfortable with their main “traction” channel being Paid Social.
Btw, judging by the amount of spend you’re currently doing I imagine you already know this lol.
What’s hard is to measure is how much the Facebook Pixel is actually hurting you. Your space is extremely competitive, once you bring someone into your funnel Facebook will start showing them a bunch of ads from your competitor’s - and Casper will out Social Proof you, Purple will out content you, Helix will out lead gen you.
Edit: These are just my examples, not critiquing you. Also, I acknowledge you’re ask Andrew and not me, sorry lol.