I know exactly what you mean, it can be disheartening. I try not to focus on the stats, but when you think about the numbers as you presented it is disappointing. I know I have a few readers/ writers where as you say the engagement is genuine and meaningful and for me that is my objective now. I know with time if you engage and build a loyal following it will compound and you will see the ripple effect.
I think if you want to shortcut the process it comes down to what people are interested in the most. For some it is education and for some it is entertainment and I imagine within those areas are certain topics (sex, cryptocurrencies, coding) that always garner attention.
Good article and thank you for sharing what I suspect many of us are thinking and experiencing.