NFT market is hugely different compared to back then when there's still big hype surrounding it, the only NFT that actually moves in price are the big NFT that costs few ETH to hundreds of ETH. you aren't making any money trading lesser valued NFT and these NFT marketplace found this as a problem that could reduce trading volume.

that's why I think new protocol is invented where they could split NFT to fractional ownership as you mentioned. making the market more interesting, liquid, and affordable for the little shrimp.

pretty much all the explanation above has been sufficient, but just to add, it removes barrier between small shrimp and whales, I guess this also an effort to keep the NFT market alive as well, preventing liquidity escaping the market due to limited options.