The GameTheorists, maybe two-three years ago ran a survey where 85% of the boys/teens/20-somethings in their audience did not watch any traditional TV. NONE. They streamed it or binged it on streaming services long after original airing. Some 40% of their audience NEVER WATCHED TELEVISION SHOWS Since TGT's audience (some 10 million subscribers) is almost entirely young men, and the young male demo is one that is heavily chased by advertisers, this gives an idea why TV people are a bit freaking out. Televisions product is the ads, and the shows are the hook to get you watching the ads. No people watching, no ad revenue.
I realise that my saying this to you is like a high school student talking back to a PhD, but yea. You've written here that TV is domed, and this will get into a redundant conversation. The long term watchers and targets of the ads have moved on. It's all old people now and old people don't buy new stuff they stick with the brands and services they have bought for the last 30-50 years.
Ready Player One was not a great book.. it was, meh. Not a fan. I'm not going to bother watching the movie.