As I see it, movies are dying because of pirating. The movie theater used to give an experience because the darkness and the size of the screen and the sound system. But now people have all that stuff at home. Peoples TVs at home are good enough that they would download movies. What kind of entertainment can provide an experience you can't get from a recording? A live play. But plays are so boring. There aren't any special effects, just lights, clothes, a backdrop, etc.

tl;dr Would you watch a live play directed by Michael Bay?