Sometime after WWII the USA decided that beauty had no value. If something still works but looks bad why would you replace it? That will cost money and all things should be in the service of maximum profit. Unless you literally stop going somewhere because it looks so bad, there is no incentive to improve it.
It's more than superficial too. At some times it seems like convenience and even safety get tossed in to the list of expenses considered superfluous. The damage done by this thinking is immeasurable.
I shouldn't have said replace. It's more about when new buildings are constructed. Making them nice doesn't help the ROI unless you can charge more for rent, and they're charging the maximum possible rent so it's just a waste of money... Or so the thinking goes.