The problem in modern Hollywood is that the "fun" is almost gone. Personally, I love stupid 80's/90's over-the-top action movies and they were super fun back then and many of the effects are practical with little to no CGI whatsoever. Like Terminator 2 that was released in 1991 and the effects still hold up even better than nowadays... when you see a truck in flames falling, that's AN ACTUAL TRUCK IN FLAMES FALLING!! No CGI. It makes the scenes more impactful. With limitation comes creativity.
Now, let's take a cheesy movie from the 90's like heck... Power Rangers or the Ninja Turtles... yes, they were stupid but hell of fun movies... they're not Shakespeare and they aren't meant to be.
Flash forward nowadays, when they do Power Rangers or Ninja Turtles... the fun and cheesiness are gone with more gritty, dark, bleak, CGI filled and almost soulless. No fun!! These movies should be silly and fun and not meant to be an Oscar-bait.
I don't mind serious movies like my all-time favorite movie ever is Dark City and boy, does it feel wonderous when you watch it. The atmosphere and the story sucks you in and you almost feel you are living in this world.
I mean, I was excited for the Barbie movie but I heard things about it that turned me off. Not gonna spoil them but yeah...
Top Gun: Maverick from last year was fantastic... the story was really good and the action/sfx are done so well that you feel like you're living in the moment when movies were fun to watch.
And yeah, that's the magic word... "fun". Even the old Scream movies, while stupid, they were fun. That's why I've gravitated towards Anime because I'm finding the fun over there moreso than a bloated budgeted movie.
I enjoyed the Super Mario movie, a lot, and I don't think it's dead yet.
One element, we almost have no NEW franchises... Hollywood still latches on products from the 80's, 90's early 2000's like Terminator, Ghostbusters, Ninja Turtles, Star Wars, Rambo, Indiana Jones and so on... Do you see any new franchise being created in 2023 that would last 40 years from now? Maybe? The test of time will tell... so, that's another factor, in my opinion.