It used to be that movies were shot on film, and the directors rushed daily copies for review by the studios.
They’d take multiple takes, and either pick out the best or reshoot.
Then Jerry Lewis came up with video assist, and they had an instant method of assessing a shot or performance.
More and more innovations came about, making it easier for the studio and director to assess the performances, to the point where they could determine a hit or a bomb from the pitch meeting.
Every pitch was a determined to be a bomb, and the industry collapsed.