It's more like, the spotlight has shifted away from the medium and creative people have left. Old movies, like old books, are by definition more important. Look

It's more like, the spotlight has shifted away from the medium and creative people have left. Old movies, like old books, are by definition more important. Looking at the highest grossing movies of the past 2 decades almost all are based on older stories/franchises, from star wars to marvel , to LOTR, to harry potter (newest one).