I don't think there's any CGI in Pulp Fiction (1994) and it cost around $9 million to make in 1994 dollars. It made around $200 million worldwide. Whiplash (2014) , a more recent movie with little to no CGI, cost $3.3 million to make and made around $49 million worldwide.
The point is that people want interesting, well written movies with great stories. If that warrants CGI sure, but it's not a requirement.
A boring movie is not good. But a boring and expensive movie is terrible and that's what's mainly being put out: boring and expensive movies.
As far as movies with huge production budgets for every great movie with a justified fair amount of CGI there's tens of crappy ones many that break even or don't make their money back.
Creatively speaking there's probably never been a worse time for big Hollyood movies.