It went the same way that the gaming industry went. Small studios making individual projects that they were passionate about gradually gave rise to an exponentially expanding market and industry before it met people who really turned it into a business. These new businesses do what any businesses do and that is view the market, reduce risks, and increase profit. This has left us with a lot of unimaginative generic shit that panders to merchandise buying otakus or simply rehashes of similar concepts that have been shown to generate money (See Isekai and Magic highschool LN adaptations). While animation quality has risen, just like graphics in games, we've also seen really lazy directorial work with scenes looking pretty but in general being pretty shit from a technical standpoint (See any fight scene that does that BS spinning camera) .

The medium as a whole has scene a shit ton of improvement from genre expansion to animation quality to the volume of anime coming out every year but obviously not every thing is great but the companies are kinda just doing what the believe they have to survive in a more secure fashion than studios did in the past.

I just really hope we stop getting these really shitty LN adaptations and get some more original anime or just not shit manga adaptations that aren't panel-by-panel conversions.