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I think the reason they are struggling is because all the decisions on what should be greenlit are being made by VC investor types, business people who arent in it for the love of film or storytelling etc. No chances are taken, only huge guarantees of big returns are considered (which means replicating what has made money in the past.)
This kind of thinking neglects what actually makes a movie good, and how movies were made in the past.
100%, Id say the problem is multi faceted but for sure a big (maybe even majority) part of it is big money trying to guarantee a hit rather than produce quality content