I do think that fierce competition from competing services with way more IP's to leverage is a big factor. But yes, I think in some extent the world is simply starting to open back up slowly, and this will naturally affect any industry which surged due to the pandemic. Whatever restaurants remaining will surge, indoor entertainment will deflate down a bit.

And I also agree that the internet sentiment of "omg too many services, I'm just gonna pirate" is such a minor part of the equation. Social media loves overrepresenting its just world fallacy and thinking that everyone is as invested to screw over companies as they are on twitter or whatnot.