The Click Collapse: How AI Retrieval Layers Replaced Search Discovery
Rex Fraction, Lee Sharks · Zenodo (CERN European Organization for Nuclear Research) · 2026
EA-CORP-01 — Market analysis documenting the replacement of search-engine discovery by AI retrieval layers. Data: 58% CTR decline (Ahrefs), 69% zero-click (Similarweb), 1% AI Overview click-through (Pew), ~5 citations per overview, $2B annual revenue lost (IAB Tech Lab). Three structural diagnoses: R1 Commoditization, R2 Capital Erasure, R3 Semantic Sovereignty. Why SEO and GEO do not solve this.