With Streamers It’s the Same Old Story - TPM – Talking Points Memo:

You were benefiting from the excess spending that was aimed at building market share. Now the market is saturated. So that era of great stuff for relatively little money is over. At a basic level what many of us enjoyed as a Golden Age of TV was really this period of excess spending. It was based on a drive for market share, funding lots of great shows with investments aimed at building market share.

As Josh goes on to point out, this pattern repeats—with some variations, obviously—across a capitalist economy. It is confusing to me that it is not made more obvious in the vast majority of the commentary on the changes in media and publishing.