Actually, yes Hollywood did lose a lot of money but you've ruled out lots of factors into why Hollywood lost money.
Yes they have gone woke but them being woke isn't the only reason and is a small reason, but the other reasons according to Yahoo Finance includes "Rising costs, debt-ridden balance sheets, and a renewed focus on profitability weighed on the embattled sector"
https://finance.yahoo.com/news/media-stocks-lost-over-500-billion-in-value-this-year-heres-what-happens-next-114545901.html
Fact Check Results of this meme: Mostly False
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