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Netflix streaming seemed like that at first, but better! Now, they have a tiny slice of content. And as a content-producer, they seem willing to throw money at anything B-list.
Meanwhile, the studios became more risk averse as people started preferring to watch at home. Then theaters shut down and studios became more risk averse. And Netflix and Amazon arose and started playing studio games and studios became even more risk averse.
That trajectory of fear is mirrored in the content. The 1970s were known for directorial freedom and risk-taking. The 70s gave us Apocalypse Now, Taxi Driver, The Godfather, Star Wars, Animal House, Annie Hall, Rocky, Halloween, Smokey and the Bandit, Deliverance, MASH, and more - not all high art but all complete gems. Every decade since, we've seen a gradual progression toward samey-ness.