It's more complicated than that but in many ways for much of the last 100 years, yes. Narrative aesthetics went into a tailspin starting ~15 years ago and sadly became mainstream about 10 years ago. Now you have stories not only unrepresentative of our society and culture, but unrepresentative of reality and humanity. The history of Hollywood is like anything else that lasts: it has its ups and downs and then repeats the cycle. Much like the sports leagues right now, we're nosediving off of a crest of aesthetic degeneracy built by extreme financial and celebrity success. Streaming is causing a real problem though. No reason to make anything excellent if your customer already bought the product.