Yep, I think we're both correct. https://www.pewresearch.org/chart/domestic-ticket-sales-plunged-during-the-pandemic-and-still-havent-recovered/

To add another reason, Hollywood producers seem quite keen to rehash the same movie or type of movie over and over. They remake movies literally multiple times. And they have nearly zero original movie ideas that they promote. Sure, superhero movies since Iron Man has done fairly well -- because the comic book nerds finally grew up and have their own money to spend. But that isn't going to last, especially in this post-pandemic, greed-ridden, unregulated economy.

None of this should be a surprise to any studio exec or producer.