"It worked" for those in the union, for a bit, but the article itself shows 30% declines since 2022. If you're still working under the new, even-more-lavish contracts, I'm sure you're happy. If you're in that 30% now working as a barista or DoorDash driver, did the union work for you?
It's akin to the auto worker's unions, but without the same degree of government backstopping for the industry. The auto workers unions are an anchor around the necks of the auto industry, while government bailout dollars are a lifejacket - it's clear California (and more broadly the US) doesn't see the same need to subsidize the unions in TV and film.