Uh... this is probably impossible to answer. Plus, your thread title doesn't match your post very well.
When it comes to food: for one thing, it's altogether possible your tastes have changed. I know there are many foods I hated as I kid that I'll happily chow down now. And likewise, I could compile a sizable list of foods I loved as a kid that I wouldn't touch today. That doesn't necessarily mean they're made differently or more cheaply.
As for Red Lobster, I've still never been to one of those. But I might need for a clarification on "paper-thin shrimp." The husks are paper-thin?
You mentioned Wendy's... after the E.coli scare in the 1990s, my guess is that fast food places are overcooking their burgers as a precautionary measure (or by some FDA or USDA mandate, for all I know). Especially if you prefer your burgers rare, you might have experienced a greater shift from your personal tastes -- even if the outlet used the same grade of beef for its burgers over the years.
As for soft drinks, non-diet sodas (or pop, as you would call it up there) are generally made with high-fructose corn syrup nowadays. I'm not sure how old you are, but I'm guessing you're of such an age that you drank pop sweetened with cane sugar. Many people -- myself included -- prefer cane sugar over corn sugar.
Faygo reportedly uses sugar in its glass-bottled drinks, corn syrup in its canned and plastic-bottled beverages. You mentioned drinking it from the 16-ounce glass bottle as a kid -- was it the same container this time around? If not, then you probably threw back the corn-sugared version.
All this said, it is also very possible that some of your favorite chains have chosen to cut corners. Taco Bell went under scrutiny after just such an accusation, summarized
here. With so many of these larger companies protecting their exact recipes (e.g. KFC's "11 herbs and spices"), we may never know the exact composition of the ingredients, which means we'd have a tough time knowing for certain that a store has taken a cheaper route.