No, the problem with Bollywood these days is lack of quality or mainstream entertaining movies.
In the 90s, we had dramas, romantic movies, comedies, action movies, etc. that clicked with the public. There was a template that most directors followed and it worked.
In the 2000s, the wave from 90s carried on, with urban rom-coms joining the fore.
In the last 5 years, unless your movie has a Khan, we don't see movies connecting with the larger audiences. There is no successful template to follow.
In the 90s, you had Sunny Deol, Govinda, Sanjay Dutt, Anil Kapoor, Akshay Kumar, Ajay Devgan, etc. delivering big Hits apart from the Khans. They had Super Hits/Blockbusters.
Today, there's one BB from a leading male star who joined after the multiplex boom - and that's Ranbir with YJHD that could be compared to the Blockbusters from the Khans.
There is no guaranteed template that would work. Metro Hits like Queen, Badlaapur, Piku, etc. are celebrated like they were Blockbusters.
Simply put, Indian producers have lost touch with the audiences. And, the varied tastes isn't taken into account. But expenditure and star prices have gone up. There's no balance.
Ultimately, box office reveals what audiences prefer to watch. There are more BBs today (around 15) than there was from 2000 - 2005 (4), but the number of Hit movies are dwindling. The number of Average movies/earners have gone down.
Why is it so? Is it because of the wanna-be Hollywod-ization of Bollywood? The core Bollywood fans won't necessarily like a breezy rom-coms that work in Hollywood.
Look at how India is still stuck: thrillers don't do well here. Horror is still considered B-grade. Crime moviex rarely become big Hits. The dynamics of Bollywood is completely different to that of Hollywood. And, as long and until, producers/directors don't understand what Indian audiences want, this "downtime" will continue.
You can't be a snobby critic and shun every commercial movie or typical Indianized movies. Just as you can't be a complete dumbo and make simplistic entertainers only. There's a balance and when that balance is met, movies have worked (3I, BB, PK, Dabbang, OMG, ETT, YJHD, etc.)
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