It's a fractal. You don't have complete freedom across the entire space of "stories" to just pick one; most such randomly selected stories would be just random things that happen for no in-story reason, then the putative story simply ends. A top-level RISE/FALL/RISE structure can add interest to the story. But then within that there is a fractal of other options, because if that's literally all your story has, once again it's not really
that interesting. You can keep descending down gather up more and more detail.
Sometimes someone discovers a little undiscovered tributary, or does a really good job with something like Memento.
On the one hand, there is order to the space more than just "things happen, then they stop". On the other hand, like a good fractal, you really can't classify the whole space of stories with metaphorical rectangles on the diagram. No matter what rectangle you draw around romance, you're going to get every other genre mixed in at least a little bit, and so on for all the other things you can try to draw.
As one gets more experienced with stories, one's interest tends to "zoom in". A kid may be satisfied with a simple hero story. As you get older, the hero story itself may be of little interest, but you are more interested in the fractal bits within it; the quality of the characterization, twists, plays on expectation. Later you may find interest in underlying philosophical themes and so on. Or, you can miss these finer details and become exhausted with stories believing you've seen them all, which despite how it may sound like I'm characterizing it here, isn't necessarily the worst thing ever. There's all sorts of things in the world and you can't become master connoisseurs of them all.