Before writing this rationalization of the dumbing-down of literary standards and of postindustrial discourse in general, caused by democratic empowerment, social media, and the digitization of information, couldn't you at least have consulted a dictionary?
"The essence of eloquence is conveying a lot with a few words," you say. What nonsense!
Eloquence is fluency, persuasiveness, and most importantly forceful, vivid expressiveness. Orators are known for their eloquence, not because they dumb-down everything they say, shortening their sentences and treating their listeners like morons who don't know the meaning of big words, but by avoiding abstractions and by writing with emotional power.
Rather than making excuses for the lowering of standards, you can resist it.