I think so, and this is not China-centric, but the future of entertainment seems to be moving away from trying to create huge blockbusters popular around the world, and creating masses of niche shows at a high tempo (hello Netflix!)

In other words, Hollywood is going to stop trying to create products that appeal to both Chinese and US markets. If they are allowed in China (doubtful) they will probably be better off creating niche shows targeted towards the Chinese audience (can't imagine the Chinese govt allowing that now though...)