Traditional Agency Model Fading?

Disclaimer, this is a fairly industry specific question --

I work with a performance marketing agency, our clients are Mid-Market and Enterprise DTC brands and retailers. We can also accommodate lead gen and B2B but it's not our core.

We've seen a shift over the past few years where more and more brands are preferring to handle Paid Media channels in-house rather than outsourcing to an agency.

Multiple reasons for this but that's a whole separate topic.

Mainly curious if any other "managed services" sellers in the digital marketing space are seeing a similar trend, and if so, are you planning to ride the wave until it dies or are you looking to pivot into other industries?