Power Automate is not nearly as simple to use as Alerts. It's not even close. We don't want to push users to Power Automate as we don't have the staff to support users figuring out how to make it work. Alerts have required no support as they are so easy to use. So with Power Automate being too cumbersome for the average user, we looked at Automate Rules. Automate rules could be a reasonable and comparable replacement to Alerts, BUT as it stands now, you don't have access to create a Rule unless you have contribute access or more. We have many use cases where people can only have read access in a list or library, but they'd like to be alerted to new content. Power Automate just isn't a comparable replacement to Alerts. Automate Rules won't work unless changed to allow for those with Read only access. I hope Microsoft will consider this option.