Well, to me American movie industry is dead. I can't name any good movie after 2010. It's extremely primitive now: no dialogs, just violence, giant explosions, and/or "diversity" that usually is extremely weird because it is unnatural and feels too forced.

E.g. I went to see the last Bond movie and slept the good portion of it. I never actually liked Bond movies, they're too shallow, but the last one was both shallow and dull.

I didn't spend my money to see the remake of Matrix - first comments from friends acknowledged what I suspected: it is a half-baked attempt to squeeze more money from the famous name without trying to make it interesting: why bother, when most of the audience will pay for the ticket anyway just because of the name.

European movies are bad only when they try to emulate Hollywood. Copying something that is already rotten, seldom results in good product. But sometimes there're pretty good European movies, when they don't try to copycat Hollywood.