Edit: I agree Netflix has good Originals. But most are from the early days when they favored quality over quantity. It is sad to see that they reversed that. They have much funding power and should give it to great art that really sticks, has ambitions and something to tell, and values my time instead of mediocrity.
Cinemas were a way to share the cost of technology to show high quality movies among hundreds of people.
Most people now has that tech at home, so there is no need for cinemas anymore.
I went to my local cinema a few times before it closed last year. There were never more than 3 spectators.
Home is convenient, but also small and thus limited. Having a large commons to go out to helps. But that might not be the case for Gen Z as they adjust from 200 inch screen to 7 inch ones for consuming media. Why spend 150 million on a cinematic experience when a single creator spends maybe a week planning a 30 second tiktok for engagement?