Yes and no. Correlation is not causation. Movies cost so much that consumers have to be picky. As a cost/benefit are you more likely to get your money's worth from the Odyssey or Moana 2? If Moana 2 had more practical effects would it be a better movie?

A theater trip for a family of 4 can be ~$100. It is for my family where we live. That's 1/3 the cost of a 55 inch TV, or a 65 inch TV at Black Friday, plus a big box of microwave popcorn.

If you want people to see the poorly written, phone-it-in, low effort remakes these studios are intent on putting out, you have to price it accordingly, or everyone walking out of the theater says the same thing: "Wow. That wasn't worth it."

People are still very willing to see well crafted, thought out, intentional pieces from direrectors or studios they trust to do a good job. It's worth it.