I actually wrote a post here on Criticker
(the title of that post comes from another post
I made earlier, linking to a photoshop contest that can also be relevant in a very macabre way) about Hollywood milking what the fuck they can, based on a list of some god-awful remakes I found out were in the making. It was written in the spite of the moment so I guess it's not very informative, but it's relevant to the current discussion.
All in all Hollywood was never about art; creative minds in Hollywood are merely coincidence, which is why most directors today turn to independent cinema (also because it's more accesable). I won't mind telling the history of Hollywood since it's not very interesting and you can google it up or look for the Wikipedia entry anyway, but the fact is that Hollywood is not about making quality cinema. It's about cashing in.
Quality cinema made in Hollywood is barely something executives found out will be profitable.
For that, each times a fart comedy makes it to the box office weekly top 10, God kills a kitten.