Let's look at some positives, though.
First, Amazon seems determined to make MGM a major studio player again, which (if plans hold up) would make it a great fifth studio.
Secondly, it seems like Netflix is finally getting into the theatrical game. Once shareholders get a taste of that box office money, I believe Netflix will be providing more movies than we realize, so there is a lot of hope there (especially when KPop Demon Hunters 2 is released).
Finally, Neon and A24 are making great movies that are profitable at the box office, so they will likely be the home for great mid-budget auteur films for many years.
Yes, this merger is bad, but there are rays of light at the end of the tunnel.
In a span of seven and a half years, we lost Fox, saw Paramount and WB become nothing more than brand names, and went from six major studios to four. I hate it here. I really do.