> a hit and fad driven industry similar to movies, music and video games

That doesn't track at all.

When the movie and music industries were pumping out their biggest hits, the production cost was high. Profit may be higher now in the modern era while costs are lower, but would you honestly (seriously honestly please) call most of the remake/homage slop we've had since the late 2000s "hits"? This simply isn't survivorship bias either. Just look at what music stands the test of time on youtube and spotify or gets people at least smiling in real life. Look at the variety of genres too. Look at when we had the highest density of solid audience ratings for even run-of-the-mill or cult movies.

You can say all you want that these industries "always did this" and insist that when you look at your own list of favorites it's just because you're getting old, but that's more obviously denial as the years of this bullshit have racked up. Even the artists agree even when they're finding success at this game, and they have the same resentment. Younger people don't even care about movies and music anymore while older people desperately pay and hope for new stuff like it's another pull of the increasingly rigged slot machine. It's not even that younger people are more interested in social media. That excuse is just as clearly false when you see how hard they go on retro styles and what they also have saved on playlists.