I agree to a point.
However look at the example of Star Wars. A great IP. Huge sandbox to play in. Yet the director set about destroying it and was successful.
Something like the MCU was very successful, but I expect it to be trashed by some writer who wants a gay disabled trans super hero and gets handed Firestorm as their character.
You might think that they've destroyed it, but they've recouped their initial $4 billion investment, they continue to make hundreds of millions a year on licensing, and The Mandalorian is the biggest thing on Disney+, driving a good chunk of their subscriptions. And in a few years, they'll reboot the franchise.