Imo, the problem is fragmentation, as everyone doesn’t watch the same tv/movies anymore. We don’t have shared experiences of watching Lost, Breaking Bad, Game of Thrones and etc., which used to be a global phenomenon. They do pump out quality TV (e.g. some Apple originals are top notch), it’s just it’s not like that golden era anymore.

Kinda agreed with you though, but I’m also getting old, so maybe my judgement is skewed as well.