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.