I think the biggest issue is that the Michelin guide is no longer reliable (some Dubai Michelin rated restaurants should not even be given one star). Once you lose your credibility, then you lose your product itself, such as why would even rely on the Michelin guide for hotels if they can't even do what they are known for properly?

Google Review is much better for looking at the product as a whole.

The Michelin guide is just a catalogue now; but the true verification of products is through the rest of the internet, such as FT.

Michelin guide has zero influence for hotels.