Blockbusters are not the only movies that get made. Let Hollywood keep Batman. In the meantime, it's not hard to imagine a new way of making and distributing Mad Men and Portlandia.
Mad Men produces 13, 45-minute episodes a season. 13 hours of content for $33 million (at 2.5 million an episode.)
That's $55,000 a minute, versus $1,462,962 a minute for Avatar. An order of magnitude difference. Each minute of Avatar cost nearly as much as a small episode of Mad Men.
That's exactly the kind of feature a shrunken Hollywood, not focused on blockbuster hits, might produce.