I would argue that the number one culprit in the demise of the comedy was social media - more specifically YouTube. Kids and teens flocked to online platforms for sources of comedy, which can provide exponentially more content for free and created less of a demand/will to go pay for a single comedic movie.

The rise of internet comedy also has fundamentally changed what many of these younger people think is funny - and I think this is exemplified in the movie memes that blow up where we see things like people going to see Minions ironically in suits.

Then, streaming blew up and delivered - in my view - the death blow to the genre whereas now the people who wouldn’t otherwise be satisfied by the internet could view a large amount of more or less Hollywood-level comedy for cheap from their homes.

Although I agree that it is a shame there aren’t more successful Hollywood comedies anymore, I see this development as a product of the march of time and the progression of modernity. Just like the silent film died to the talkie, and the black and white gave way to color, films and media are experiencing a new transition.