Spider-Man No Way Home had the advantage of a pandemic and lack of any real competition. It also had the novelty of mixing characters from three different generations into one movie which drew fans from various age group demographics for that nostalgic feeling. The MCU movies are still doing well but neither Dr. Strange nor Thor managed to perform similarly, although both still did have impressive numbers compared to various other DC or Sony projects (Morbius). The fact that Sony keeps delaying the next Spider-verse animated movie despite all the awards the first one won points to them rethinking things as well.
Star Wars, well I'm sure the folks who pulled the plug on Yoda and all those other projects felt differently after Solo bombed and by the time they finished the latest trilogy, which did break some records, many expressed their dissatisfaction leading to an all-out halt on theatrical releases. Disney saw the writing on the wall and has, for now, retooled the franchise into one giant streaming series while the theatrical projects have become the stuff of rumors that may or may not ever see the light of day.
From fans to professional reviewers there are many bemoaning the onslaught of movies that Kevin Feige announced at comic-con. A blitz doesn't quite describe it. Meanwhile, DC has announced, now I'm awaiting the cancellation news, of such things as Booster Gold and other craptastic characters. Aquaman 2 (this could be a successful sequel but has its Heard drama to deal with) and The Flash (assuming it doesn't get pulled because of all the Ezra drama) are on their way and Wonder Woman 3 is in development (but both Gal and Jenkins are keeping quiet after the mixed feelings from the 2nd). Sony has Madame Web, Kraven, Leto pushing for Morbius 2, and a few other things it thought it could pull off as well. If we get around 20+ superhero movies in the next 24 months pretty sure all will feel fatigued except for a few exceptions.