People may be catching on. Dumbo has made substantially less money than Mary Poppins Returns. I assume they are biting their nails a bit about Aladdin and The Lion King remakes but...in today's international markets, movies don't really bomb anymore, they just underperform.
I think what's sad is that these sequels and remakes are pretty assembly-line jobs, action movies instead of heart-warming tales like Disney used to make.
I would agree that most remakes are kinda assembly-line patchups. But with Dumbo there seemed to be an added problem of having nothing creative to add. Most of the original Dumbo took place in about 40 minutes of this and then the rest felt like Tim Burton trying to be creative and failing.
I don't think there's any getting around the routine aspect of movies nowadays. Even Inside Out felt like it was cooked up on an assembly line. But it still worked. When Disney goes original is when they seem to fail. The second half of Dumbo, a Wrinkle in Time, the Last Jedi, Tomorrowland. And when they do it they get criticized heavily for not giving audiences what they want.
I should correct myself that not all stories have been told already. But my point stands that all the good ones have.