The difference is that Silicon Valley can move. Hollywood just sat by while the government and party they blindly supported gutted their industry.
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Hollywood has moved only it die not take Hollywood with it.
Film makers remained in Los Angeles because of the support system within the city limits. But it is going to be cheaper to leave California and film elsewhere. The support system will follow the studios.
The film industry has changed, Hollywood has not changed with it.
I think the new technology developed by Disney for the Star Wars series where they film the actors standing in front a a large curved jumbotron disconnected them from the studio backlots.
Now, they can build those studios wherever they want and project the landscape behind the actors.
-PJ