Heh, looking at the article and the cesspool of WSJ comments:
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The elephant in the room (that the website dances around) is algorithmic attention. If people are glued to feeds on phones/at home, that's less time to chat about (and go to) movies that don't have the critical mass to pop into your feed. That sucks, as there's nothing movie studios can do about our toxic information environment.
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Going by the comments... Seems modern movie goers have a thin skin. Even the slightest hint of something woke is apparently unwatchable? But themes and conflicts that make you uncomfortable are what makes fiction interesting. This may cut both ways too (with, for instance, military-themed movies turning off more leftist moviegoers? I feel that way to some extent).
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Wanting to watch at home is a major contributing factor, but I think its overstated compared to the above two. Like, our local Movie Tavern isn't super luxurious, I have crazy technical family with OLED/surround setups, but going out is still a fun social excursion. Most peoples' home setups... aren't great.
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Maybe this is more personal to me, but I am way more into TV series than movies these days. There's just so much more time to worldbuild and assemble characters, and more room to run and play once established. But I would totally pay for a restaurant booth to, say, watch some TV episode I can pick with buds.