Unfortunately the last step of the 3Rs, Recycling, is the least effective. Back in the 1970 and 1980 the plastic industry (estimated to be a $3 trillion industry in 2020) doubted the usefulness and efficiencies (i.e. money) of recycling.

So that's why in the past 40 years, less than 10% (8.4%) of plastic has ever been recycled. 

According to the above article the plastics industry has spent tens of millions of dollars promoting recycling while all along they knew, as far back as the 1970s, “that recycling plastic on a large scale was unlikely to ever be economically viable.”

So why did (and does) the industry play this charade? 
They do it to keep plastic bans from going in effect and so they can sell more plastic.

So the three things that has failed the recovery of plastic in the environment have been:
  1. behavior-change programs, which rely on consumers being taught to feel guilt about waste plastic in our environment, only goes so far
  2. there is a low value (and such easy convenience) placed on single-use and multi-layered plastics
  3. greed and disinformation of the plastic industry