From en.wikipedia.org/wiki/Jumping_the_shark:
Jumping the shark is a colloquialism used by U.S. TV critics and fans to denote that point in a TV show or movie series' history where the plot veers off into ridiculous story lines or out-of-the-ordinary characterizations, undergoing too many changes to retain the original appeal of the series.
Shows that have "jumped the shark" are typically deemed to have passed their peak as after this point critical fans can point to a noticeable decline in the show's overall quality.
The new term for that event is "nuked the frig"! (see Indiana Jones IV)