Overcrowded factors

Were there any popular, consensus-agreed on, micro-founded factors that worked in the past but have now been truly overcrowded, decayed and arbed away? The literature keeps sucking off the household-name factors like value, quality, momentum etc but I was wondering if there were factors in the past as legendary as value and momentum that have gotten arbed away and don't exist anymore. Seems like the only ones that disappeared were the weird niche ones that probs were just lucky p-hacking anyway

What would it take for the legendary factors rn to stop working? Would value investing, in the sense of the deep fundamental philosophy practiced by Buffett and Graham, ever get arbed away and disappear one day? How can we ever know for sure if a factor has been truly arbed away or if it's just going thru stretches of underperformance? We can't know!

And throw in the additional puzzle of the Grossman-Stiglitz paradox - any factor that disappears will theoretically come back again as investors stop trading it thus markets become inefficient again. So for the many strategies/ factors that truly never came back again - what gives? From the lens of Grossman-Stiglitz, were those factors even real to begin with?