Wrong. Clearly you've never lived in NYC, where people apparently use lines as a proxy for how good something is. Lots of other big cities too.
Also, box office revenue hasn't collapsed or anything, so I'm not sure what you mean with your example. In fact, come to think of it, I see people lining up for things multiple times every year at the theaters I frequent.
When I see those long lines in front of [insert trendy food item] stores I think, "I'll have to try that one day when there's no lineup" but when that day actually comes, I've already forgotten about the place. Some of us do gauge popularity by lineups, but we also can't personally be bothered to stand in line.
Also, box office revenue hasn't collapsed or anything, so I'm not sure what you mean with your example. In fact, come to think of it, I see people lining up for things multiple times every year at the theaters I frequent.