1939 is widely regarded as the peak of the studio system. GWTW, Goodbye Mr Chips, Stagecoach, Gunga Din, Ninotchka, etc. It's really striking how much more intelligent and sophisticated many of the movies of that era are. You can extend that into the 50's for musicals, noir, and some epics.
There was another peak in the late 60's through the late 70's New Hollywood with the auteurs like Cimino, Bogdanovich, Mel Brooks, Coppola, and De Palma.
There's a lot of crap these days, even accounting for Sturgeon's Law. The target audience has shifted from adults to teenagers out on a date and killing some time. Dialog and characters have shifted to match the market.
What has gotten better is TV. The long form TV series has opened up a lot of narrative space because it doesn't have to tell a single, stand-alone story in two hours.