The answer to this is simple: The product is in a bad place, because everybody wanted to mimic the Warriors style of play, and because stars nowadays don’t respect the paying customer. I remember during Kobe’s prime, he mentioned that he had an obligation to play as many games as he could, because he knew that there were only so many chances a season for fans to see him play live. If the Lakers were playing on the East Coast, they only had one trip per year to towns like Washington, Philly, Orlando, etc. It would kill him to miss playing games, and giving the fans a show.
These new NBA players aren’t cut from the same cloth. A lot of them are getting paid obscene amounts of money to spam 3-Pt shots, and sit out games because of a sore toe, or a hanging fingernail. Some of this has to do with teams trying to protect their players for the playoffs, but the regular season is virtually useless now. They had to create an in season tournament, just so players could play games during the regular season. It’s embarrassing. The paying customer probably feels like their money is being wasted going to games where you have no idea if a star will be playing that night, and the viewing public is frustrated by this as well. The ratings so far reflect the uselessness of the regular season.