I don't think the downward trend is atrributable to mediocrity: I think the downward trend is atributable to consumer dollars being pushed in different directions.
I used to think that for a long time as well, but s couple studies my macroeconomics teacher rattled off in class apparently showed that entertainment has a history of being an outlet for an economically depressed populace. People still generally find time and a budget for entertainment (mostly families) despite money woes.
It's the budgets for vacations and clothing that take a beating more so than annual recreation.