In summary, the economy is slowing down, inflation is high,...

In summary, the economy is slowing down, inflation is high, interest rates are about to go up.

People aren't going to go on redbubble / teepublic to buy printed t-shirts when they need their surplus money to keep up with essentials like petrol, food and shelter. Coupled with Apple's app tracking changes making it harder for RBL to target potential customers and rising customer acquisition costs, these are significant headwinds for companies like Etsy/RBL.

RBL is also in a growth phase, investing in lots and lots of new hires (just look at their jobs page) eating into their margins.

It will be a while before we see any upside IMO.