They specifically mentioned that they think there's going to have to be fewer movies released in the future. I don't know how that wouldn't be referencing competition, specifically that more movies means that the studios are worse off.
And I think their idea of a few huge budgeted flops is not new, nor do I understand why they think it's new. We've had that this year, last year, and every single year that movies have existed. We've had movies like Cutthroat Island bankrupt an entire studio. We've lost many movies studios over the decades, and new ones have risen in their wake. That's not new, nor will it ever be new. That's business. Studios always run the risk of hurting themselves, and losing everything, but, contrary to what Spielberg and Lucas believe, that is something they have and will always contend with, and is not a new phenomenon. I think it's a mistake to take Lucas and Spielberg at their word simply because they are big names. True, Lucas is an insanely successful businessman on his own terms. That does not qualify them as experts on economics, and how businesses run.
It's also a little bit silly to ignore them at the same time. The difference is now we're at a time where Hollywood is going to have to fight to ensure people still want to see their movies due to the way people consume content nowadays. The current business model is unsustainable, the question is have all those billion dollar movies clouded judgement?