What happened to production design, lighting, and color in films?

Countless movies released now, even fantasy films that try to be whimsical and/or are adaptations of fantasy franchises, look quite ugly. The visuals are especially an important factor to emphasize whimsy, and yet so many films now look hideous.

The colors are very washed out and look very drab, the set pieces often look rather basic with no unique design flair, and the cinematography often feels lifeless. Like it was shot for an insurance commercial.

Many even have a pretty big production budget to work with.