From what I understand this keeps happening because "Hollywood money" is afraid of untested "formats." Everyone wants easy money, "no one" (read: investors) wants to create art, they want an "easy" jackpot.
This kills the medium. I haven't watched a new movie in I can't even say how many years, possibly a decade.
I watch a lot, and can say there's plenty of stuff out there that's still good, whether it's arty (Killers of the Flower Moon, Oppenheimer, Poor Things) or fun (M3GAN, Barbie).
There's a fuckload of money being squandered on absolute bollocks though. Aquaman 2 cost over $200 million. Expend4bles cost $100 million. Both should have been scrapped before filming.