I think the other thing that is missing from this conversation is the bar of entry has lowered so much with modern CGI. Look at a YouTube channel like Dust[0], which has literally hundreds of sci-fi short films using CGI to tell stories. Sure, they aren't 2022 blockbuster level, but they are 2010 TV level. There is simply no way practical effects would be able to scale the way that CGI has.

[0] https://www.youtube.com/c/watchdust