The landscape of video entertainment is being reshaped. Over the last two or three decades, content production has gotten much cheaper, easier and faster. In the last decade or so, content distribution has gotten cheaper, easier and faster.
As a result, what we've called "television" is now a place where long-form dramatic stories can unfold. Since it's more affordable to produce, content which can appeal to smaller audiences can be created and marketed to those smaller audiences.
Cinema is where the short-story of the video world now exists. While content distribution is easier, cinema is constrained by a finite number of theaters. Financing a motion picture is extremely conservative: if you don't have an established audience, you will have trouble getting funded. So now we see mostly adaptations, sequels, nostalgia-fests. I wouldn't say that a story has to have "stories that could be true" in order to be compelling and moving art. But the most compelling stories certainly tend to be set in the present with non-supernatural characters.
> handful of providers of content. Hollywood, HBO, Netflix, Amazon. That's not nearly enough.
It seems like we're seeing a significant direct investment from content distributors directly into content production. I agree that it could be a bit of an oligopoly, but the fact that it's "easy" to make a content distribution enterprise (relative to how it was in 1910-2000) means that we have more entertainment choices now than ever before.