Throughout the 60s and 70s 19/20 films that won best picture were in the Top 10 Grossing. Since 2003 there hasn’t been a single one. Even after they expanded the number of nominations there’s still only 0-1 nominations in the Top 10 Grossing every year.
This is really due to the the fact that nearly every film in the Top 10 Grossing is a sequel, a remake, or a franchise movie. These films print money so Hollywood keeps making them.
In 1979 Kramer v Kramer was the highest grossing film. In 2021 it was Spider-Man: No Way Home (the 12th Spider-Man film to come out since 2000). Spider-Man made over 3 times as much when adjusted for inflation.
You could say that the artistic portion of Hollywood is dying, though Hollywood is doing as good as always.