Those arguments are mutually exclusive. You can't have a “steady drop” and a punctual phenomenon this year.
(BTW, it's not that steady, but the general trend is clearly downward)
The truth is that they get woker, so people leave. And they're full of hypocrisy. Hollywood loved Weinstein when he was powerful. Then, they punished their viewers for Hollywood's mistakes. They fail, we get punished.
Anyway, I like the selective bias in the media... Every time their Woke cult fails, they consider every hypothesis except the ones that would prove their ideology is failing.