There has been, in my experience, a massive massive nosedive in the quality and diversity of Limited and Constructed formats since 2016. Apart from a very brief window (DOM, GRN, RNA), my draft experience with every set has felt very on-rails, with pick to pick, pack to pack decision making being basically non-existent - there is the right pick, the almost right pick, the card you pass to confirm the colour of the person next to you, and the chaff. There's no "The right pick to stay in your lane, the right pick to pivot, the rogue pick to go deep on unusual archetype". Dominaria was a brief return to limited perfection. I haven't been able to get a draft to fire since M21, since all of the drafters have just quit retail limited because it was boring for so very, very long, so maybe it's gotten better since then but I wouldn't be able to know.
Meanwhile, the diversity of the local standard and modern/pioneer metagame has fallen off a cliff - my preferred LGS used to have 60+ players every Friday from 2009 to about 2015, with 16 of them for modern each week and 6 or so for legacy once a month, and you wouldn't see more than 3 copies of the same deck. Since the Ramunap Red deck got banned in 20(18?) it's been "We hope we get 8 players", and every single one of them will experience at least one mirror match that night - and to make it worse, players are bringing Standard, Pioneer AND Modern, some of them even multiple decks for a format, just so they have a deck for whatever single event manages to fire and a loaner to guarantee there are enough people able to play. Modern is considered unplayable, because there's no sense you'll get to keep playing that deck you invested a thousand bucks into. Pioneer is the least likely to fire unless I happen to bring my two decks to loan while I draft or play EDH - which I only do if the really dedicated Pioneer couple are going to be there because they're lovely people and I like playing casual matches against them both. Standard is the most likely to fire, but it's equally likely people end up playing unsanctioned EDH and the match results just get falsified so the store keeps being able to give out FNM promos and get enough product to support their (much better attended) prereleases. If it wasn't for the generosity of our Judge, who gives out long out of print cards from the Player Rewards and Judge Rewards programs as lucky door prizes (and for last place if there are little tykes) the store would be -dead-.
Frankly, I don't care that Wizards is making hand over fist from Magic. They've killed The Gathering.