I work at a Landmark Theatre, which only plays independent and foreign films, which are often in both the public and critical eye, percieved as more original than their commercial counterparts. However, if you actually look at it, most of these films are also based on some other piece of art, usually a book or some other sort of story. So I don't it's just Hollywood that's proof of Sturgeon's Law, it's the film industry in general.
Now, I realize that this is a topic for an entirely different thread, but I would like to point out that despite the fact most customers and critics percieve our film as more original, our theatre's attendance has declined in unison with the rest of the industry. So, I don't think there is much correlation between the percieved lack of original content and lower movie attendance, so much as people just not enjoying/respecting the communal experience of seeing giant images in a room with strangers.
-Talgian