I wouldn't go that far. What I do see happening is studios becoming more reluctant to green light movies not based on established franchises or made by famous directors. You could argue that the so-called Blockbuster Era of Hollywood began in 1975 with Jaws and ended in 2009 with Avatar; today we live in what I call the Franchise Era. Big theatrical releases aren't going to disappear, but they're going to become more homogenized and less varied as studios focus on their most lucrative franchises at the expense of pretty much everything else.
We already see signs of it today. Every major film studio wants to create some sort of "cinematic universe" like the one Marvel has out of the series they own the rights to, with varying results. The result of this approach is movies that (ideally) make a lot of money, but at the same time feel mass-produced rather than created as works of art in their own right. But because these movies are so popular, they prevent original movies from finding much success. And at the same time, small independent movies have turned out to be very profitable when released to streaming platforms.
In other words, soon the only movies still getting theatrical releases will be the ones that belong to big franchises. And that's why WB isn't giving up on the DCEU, even though you'd think they would. To remain viable as a movie studio in the age of streaming movies and mega-franchises, they need a mega-franchise of their own. And that means continuing on with the DCEU.
Also, Ray, take a chill pill.