I agree that there are just as many good films being made now as there were yesteryear. There are unfortunately just as many, if not more, crap films being spewed out by Hollywood today as there were yesteryear as well. For every genuinely good piece of cinema that we get every year, there are at least ten stinkbombs that are released at the same time. Twenty years from now, nobody is going to remember the crappy movies but the good ones will stand the test of time.
The article does make a good point about Hollywood being more concerned with making profitable merchandising tie ins and such rather than making good movies that people genuinely will want to see. It reminds me of this TV commercial for a soft drink (I think it was Mountain Dew, or maybe 7-Up), where a bunch of Hollywood exectutives were discussing their next big action blockbuster. It came out in '98 or '99, shortly after that God awful Godzilla reimagining.
"So what do you have for me?"
"Giant lizards are out, giant slugs are in."
"I like it. What do we have by way of merchandising."
"Slug lunchboxes."
"I like it."
"Slug bookbags."
"I like it."
"Slug slippers."
"Slug slurpy."
"Slug on a stick"
"Slug taco. Put salt on it, and it shrinks"
"Slime slug. Throw it at the wall, and it leaves a trail of slime."
"I like it. So how's the script?"
"We don't have one yet, but we can get one hammered out by Monday."
"I like it."
Sad to say, but that's exactly what a Hollywood meeting is like in this day and age.