Just as examples, look at some streaming shows - The Expanse and Lost in Space to name two. Or the TWO Star Trek shows currently running (Discovery and Picard). Not only are they competition, they're essentially "free" (that is to say, not movies) and offer 20+ hours per season vs. 2-3 hours for a movie. Then there's the writing, production value, fanbase, yada yada yada. I'd go so far as to say that all four of these shows are better than the past three Star Wars movies (though real 'Trek fans will of course disavow the latter two). Heck, The Expanse is probably the best SciFi we've seen in a very long time and certainly the best current offering.
Call me a salty old dog, or a jaded "fan" but the after the original trilogy, the franchise jumped off a steep cliff if you ask me. The prequels at least had Lucas' fingers in the cookie jar so they had that going for them - but the sequels? Good lawd. No amount of "new blood" or merchandising will make up for what has been passed off as Star Wars in the last twenty years. And just to prove I'm not anti-SW, you can toss all the reboot Star Trek movies out as well. While I'm not impressed with Discovery or Picard, at least they're fresh and current. So I'm willing to overlook their questionable Trekworthiness.