Before modern technology there was major overhead, to both consumer and producer, when selecting any single piece of media. Producers had to acquire expensive filming equipment, go through an arduous editing process, and negotiate distribution. Consumers had to pick out what they were going to watch next, possibly travel to a venue, or at least jump through a bunch of hoops to load the next playback media.
It would make sense for the economics to bias towards long-form video media, even in the face of consumer preference for short-form. It would be absurd to release a 2 minute feature film to play in theaters. It'd even be absurd to schedule a 2 minute broadcast television slot. Even a 2 minute video is pushing it on a streaming service, unless there's a very good algorithm that the user's happy to delegate auto-playback to. Otherwise the overhead of picking the next video is on par with the video length itself.
Maybe most of us would prefer just to watch a hundred one minute videos, instead of a single full-length movie. It's just the technology to make this happen is just arriving now. Again, I'm not sure if it's true. But if you're in media, you definitely can't blind yourself to this possibility.