Yes, that the current trend in the western world. Money is all that matters. There's only lowest accepted quality. Anything above that is a waste of money, profits that are lost. Nobody wants masterpieces. There is no market for that.

That lowest-accepted quality also declines over time, as generations after generations of people become used to rock-bottom quality. In the end, there's only slop and AI will make the cheapest slop ever. Welcome to a brave new world. We don't even need people anymore. They're too expensive.

To be fair, we've already been through this cycle at least once with animation. The difference between early Disney or even Looney Tunes and (say) late '60s Hanna-Barbera or '80s He-Man is enormous. Since then there has been generally higher-quality animation rather than lower (though I know it varies a lot by country, genre etc.)

It's not inevitable that it's a race to the cheapest and shittest. That's just one (fairly strong) commercial force amongst many.