Titanic was when Jim still had his magic - a brilliant blend of practical and digital effects along with an engrossing story/characters. Some cheesiness here and there, but overall it's close to a masterpiece in my opinion. It'll probably be his last great film.
Success blunts the talents of most people, and it took creating the highest grossing film of all time for it to get to Cameron. Then it happened again with Avatar, for totally different reasons. He's basically a victim of his own success at this point, and feels the need to only direct the highest grossing, biggest movies ever now. What better way than to do FOUR sequels to make it BIG?
Can he hit the jackpot again? I don't think so. Just look at the movies he's been peripherally involved with lately - Dark Fate was a disaster, and Alita was... good, at best. He got lucky with Avatar and the 3-D angle, but that's totally played out. I'd like to believe he's spent all this time creating classic scripts filled with emotion and compelling characters, but I'm not sure he still has it in him.
Maybe if he stripped some of his hubris away and did something much lower budget, he could create something special again. But that'll probably never happen. It's like what Viggo Mortensen said about Peter Jackson:
"Peter, I was sure he would do another intimately scaled film like Heavenly Creatures..." Mortensen continued. "But then he did King Kong. And then he did The Lovely Bones -- and I thought that would be his smaller movie. But the problem is, he did it on a $90 million budget. That should have been a $15 million movie. The special effects thing, the genie, was out of the bottle, and it has him."
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