Tech and fashion logos are becoming increasingly similar, all of them using sans serif fonts. Why do they do that? And why it doesn't make sense.

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The trend in logo design that started around 2017-2018. Many iconic fashion companies ditched their recognizable logos and switched to a bland and very similar version of a sans serif font. The purpose of a logo is to be instantly recognizable, different, memorable, and, if possible, to refer to the brand’s values.

Why do so many brands change their logos and look like everyone else?

In my opinion, it’s only a trend. Will leaves in a couple of years

I think you answer your own question - it is the same reason why UI libs like Material UI etc exist - to giive people something “familiar”.

Consolidation. Look at how much companies Blackrock and Vanguard own.
Everything in our society is converging. This isn’t just a web company issue.

While it’s currently trendy to do this, I think from a UX perspective it is easier to read…