I'm inclined to agree, although I have to wonder where the money is going. Seeing plenty of BIG budget shows and movies where the dialogue and writing are just dreadful ... I gotta think those shows and movies could have outbid for better talent, but they just chose not to when it came to the creative team.
I'm thinking of productions like Star Wars Acolyte where the story and writing were just dreadful ... and they spent an enormous amount of money on it.
My bet is that the content schedule and need to fill the pipeline is so much faster that decisions get made hastily in service of metrics. You can call it Lord of the Rings, but that doesn’t make it so.