As I cannot comment on South versus North (limited knowledge), I very well can comment on the repeat value of Hindi movies...
I think, repeat viewing has nothing to do with the movies as such but with something one calls "Zeitgeist" (a German word also existing in English)...the spirit of a certain time.
Looking at my kids here, some HIndi movies on DVD I've collected still have repeat value (it's the same with CD's and even old audio cassettes)...I think, for them, there still is also the value to have something in hand, something, one can touch.
Since the dawn of streaming services, Internet has changed movie watching behaviour a lot...also the gathering as a family to watch a movie together, to make it a private event...maybe with kids around it still happens.
Since streaming services and a huge additional number of TV channels give an almost unlimited choice, the wish to discover new movies simply doesn't leave the time to think of a repeat value (and doing that in a theatre has become too costly, even on single screens) - at least rather not for adults.
I'm against the statement that after a certain date there aren't Hindi movies one could watch more than once, it's just that -in general - the offer of (international) movies and TV series has increased in a way that makes addictive to new input.
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