When you receive dividends, the price of the stock is adjusted accordingly. For example if you get a 0.5 divvie on a $50 stock, the stock opens at 49.5 the next day. Usually companies either rely on growth or dividend to attract investors. Those that rely on dividends do so because they can't feasibly grow anymore (think KO, they have near 100% market share; or think utilities like oil and gas, whose growth is purely dependent on increased populations because everyone MUST already use them). Therefore, they divvy-max, which means they ensure that the drop in stock price takes approximately exactly the time between 2 payouts to recover. As a result, the company slowly crabs in one of the 3 directions while paying the dividend.
This would be fine if the dividend was any good (i.e. comparable to growth companies), but it's not. You're looking at 5% for so-called high yield when the pre-corona inflation is 2% (yearly on both), and that doesn't compound properly (you can either DRIP which means using the divvy to buy more shares, which in turn generates more dividend, but that brings your payout ratio back toward the mean, so you don't benefit from increased dividend payouts for more than a few pay periods in practice, therefore the compounding is minimal in practice; or you can keep the dividend as cash, which means you don't compound at all).
Meanwhile, the CAGR of SPY (s&p500 index) is 7-9%, and that of QQQ (nasdaq100 index) is 9-12%.
It's easy to see that dividends are useless: they are a trap to trick you into staying poor.