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Industry has nothing to do with art. Even in big budget movies, only the ones where creative vision was given the vehicle of budget were the ones that ever mattered. Look at Hollywood - they've been trying to just make a buck for the last 16 years, even thought they found the formula, but ended up killing the entire industry and turning it into utter slop. Japan was always more about an individual vision, so on that alone they're way ahead, not to mention for manga the vehicle hardly even matters for anyone who has a roof and food.
Tldr industry has nothing to do with it, the culture may be dying but it was never like crazy good anyway, most manga and anime was always mid and that might even be too much of a compliment. The point is that the medium birthed some actual masterpieces. Does it no longer do that? Idk. I don't read manga and only ever watch like the first episode or three if anime. Maybe a movie here and there. Books, anime, movies, series, animated movies and all that always sucked, because 1. People are people and 2. It's just too hard of a medium to master for ANYONE. Sure they can get amazing in some aspects, but there will always be holes, because it's too multidimensional. Anything that requires story structure is pretty much impossible unless it is real life, so let's just live it, we're not god in that sense.
Although XRA came close to being quite perfect but probably because it's just a fucking joke and if it's funny it validates it's own perfection that way.
Any good acting that ever happened was literally just good life happening. And we were living it vicariously. Like looking at a really beautiful chick. She's just alive. Good actors are just good at letting go of whatever would prevent them from being themselves in the setting.
Visual art and music/ambience though can be absolutely perfect and amazing but it's basically like being a chef - I mean is it really you that made the food so awesome or did you just find the already amazingly rich and tasty ingredients and said "hey look at this guys!" I mean who is really to blame, the sun and the soil or some big ego nigger who doesn't understand how things works