First of all, I am arguing against the notion that it will "be immediately clear" from the word.
But also, I don't think it is a new phenomenon. Capitalism always seeks to extract all resources that are available to it; that's the systemic nature of it. Sometimes it's a good thing, sometimes (as when it does to human attention, and other stuff, in general when it happens in the extreme) it's a bad thing.
Kinda like with fire. It's akin to conning a new word for forest fires caused by climate change, which would connect the dots with climate. People who haven't connected the dots already are unlikely to do so with the new word either.
But now, I'm trying to think of the word we already have for this? Just using the word "Capitalisms" is too broad, really encapsulates too much.
What is the word for the end state of "Capitalism", or what it drives towards?
If you have ever read Moloch By Scott Alexander, I think that is the same 'jist' of what we are trying to get at with "enshitification".
But at the moment, I am having hard time thinking of an existing word that already means this.
Why does this particular word have to "Sum up History"??
I think you are correct, that left and right think that 'shit' is happening and it is because of the other side.
One blames Government, and One blames Capitalism, thought I'd say both are wrong, or over-simplified. But both agree things are 'shit'.
So guess we need even finer grained definitions of 'shit'. like:
"EnCapitaShitification"
and
"EnGoveShitification"