Obviously we're still getting House of the Dragon, but if you'd told me before the last season came out that we'd only have 1 spinoff GoT show now, and that it wasn't that big of a deal, I'm not sure I'd have believed you.
I agree with you on the observation. Subjectively I feel the same. I wonder if someone has hard data on this. I wonder if there is some executive somewhere looking at a graph of polling results, or merchandise sales or anything like that and feeling terrible that they have screwed up (at least privately, even if they would never admit publicly).
I believe that the latest few seasons removed from my enjoyment of the whole franchise. It even made the earlier episodes worse, in the same way a flat punch line ruins even the most masterfull lead up of a joke. But does this feeling also appear on the bean counting level? Fundamentally a franchise is a business enterprise with the goal of making money for the owners. Does “ruining” a series this way also effects the bottom line in a way which can be expressed in the accounting?
It does not live on much in the zeitgeist.